Lawyer
Expert in corporate and international corporate law. Has extensive experience in supporting the acquisition of financial licenses in Ukraine, as well as business incorporation in the EU, the United Kingdom, Switzerland, the UAE, and key Asian jurisdictions.
ACCOUNTING SUPPORT FOR BUSINESS (FIRM) IN AUSTRIA
Based on our experience and that of our colleagues, among the Romano-Germanic legal systems, Austria is one of the best jurisdictions for doing business in Europe.
Of course, a stable economy, a transparent tax system, a convenient geographical location and a quality-oriented mentality make this country a strategically attractive destination for entrepreneurs.
However, as in any other jurisdiction, the success of a business, or rather the absence of additional risks and burdens, depends on competent accounting support that ensures compliance with legislation, cost optimization and protection against risks.
Our law firm “Prikhodko and Partners”, having significant experience in establishing and supporting companies throughout Europe, offers professional accounting services for businesses in Austria, especially for non-residents and small and medium-sized businesses.
In this article, we want to highlight key issues that are important to know for entrepreneurs working or intending to start working in this jurisdiction.
Registration and start of accounting support
If you do not have a ready-made business, the first step is to register a company (GmbH or OG/OGmbH). Already at this stage, you need to take care of the ownership structure and external transparency.
After registering a business, you need to promptly:
- Register with the Fachverband Wirtschaftstreuhänder (analogous to the association of accountants)
- Obtain a Steuernummer (tax number) from the Finanzamt (tax office)
- Connect to the FinanzOnline electronic tax system
Accounting support starts immediately – for accounting, document preparation, internal reporting system, and compliance with Austrian regulations.
Monthly accounting and payroll
It is worth noting that Austrian companies are subject to monthly accounting:
- Invoices (Rechnungen) – processing, storage, invoicing
- Bank statements (Kontoauszüge) – reconciliation with accounting transactions
- Wage calculation – payroll, deductions of contributions, social payments and taxes
- Payment of sales tax (if your turnover exceeds the limit for mandatory VAT registration – 35,000 euros per year)
Our team guarantees timely submission of electronic forms, complete payroll accounting, personnel card maintenance, and employee support.
Quarterly and annual reporting, VAT invoices
Depending on the size of your business, you need to submit:
- VAT pre-registration (quarterly or monthly VAT report) — by the 15th day after the end of the reporting period
- Annual report (annual financial report) — by May 31 of the following year in FinanzOnline
- Corporate tax declaration — corporate income tax return
- Filing Länderbeitrag (regional tax, if applicable)
Our accountants will provide full support — from filling out electronic forms to providing explanations to the audience. We also analyze where preferential rates can be applied or VAT can be optimized.
Tax optimization and planning
The Austrian system provides opportunities for tax optimization:
- Tax absorption through asset depreciation (Leasings, Abschreibungen)
- Application of R&D measures – technological investments can be partially covered by tax breaks
- Special regimes for small businesses: if turnover < 35,000 euros – a simplified accounting system without VAT is automatically possible (Kleinunternehmerregelung)
- Tax planning regarding transfer pricing if the company works with a parent company or partners
We develop individual income scenarios aimed at minimizing the 25% rate.
Audit, inspections and compliance
Contractual companies (> 700,000 euros turnover or > 50 employees) are subject to an audit obligation (Rechnungslegungspflicht).
In addition, audits by the Finanzamt may occur in the following cases:
- discrepancies in reporting with bank statements or VAT
- requests from competitors or government agencies
- suspicion of money laundering or unbalanced amounts in accounts
We provide full audit support, document preparation, and representation in authorities, if necessary.
Cross-border planning and interaction with Ukraine
If you, like our company, focus on business in Austria, you need to work with Ukrainian counterparties or repatriate profits:
- application of the Convention on Double Taxation between Austria and Ukraine
- determination of tax residency
- obtaining proof of payments and invoices to avoid double taxation
- monitoring of currency controls and laws on currency transactions in both countries
We help you set up transactions so that profits are recognized where they are optimal. Adequate accounting support is not a bureaucratic obligation, but the basis of a stable and scalable business. Even if the company owner is a non-resident, our solutions make doing business in Austria safe and transparent.
Conclusions
Doing business in Austria requires a deep understanding not only of accounting standards, but also of the specifics of the European approach to transparency, responsibility and financial discipline.
That is why entrepreneurs who want to operate confidently and stably in the Austrian market should focus not only on internal processes, but also on strategic planning of all financial and accounting operations.
Accounting support is not just numbers, it is an architecture of trust: towards partners, towards regulators and towards oneself.
The specialists of the law firm “Prikhodko and Partners” approach this matter not as a technical service, but as an important element of building a successful presence in the European market.
Calculate the cost of services
1 question
Are you currently in Ukraine?
2 question
Are you currently in Austria?
3 question
Do you need company registration in Austria?
4 question
Do you only need accounting advice?
5 question
Do you need full accounting support for your business in Austria?
6 question
Does your business have a turnover of more than EUR 500,000 per month?
7 question
Do you want to buy an existing business in Austria?
8 question
Do you need advice on Austria taxes?
9 question
Do you need to open a bank account in Austria?
10 question
Do you need a rental address for your company or a virtual office in Austria?
11 question
Do you need legal support for a business (firm) in Austria?
12 question
Do you need a legal audit or business due diligence in Austria?
13 question
Do you need marketing support for a business (firm) in Austria?
14 question
Do you need business logistics (transportation services) to Austria?
15 question
Do you need a business loan in Austria?
16 question
Do you need an urgent consultation?
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