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Austria
offers a comprehensive system of both national
and local incentive programs. The incentives
available for a specific project vary, depending
on the geographic location, the number of
jobs created, the technology used and various
other factors. Even the range of incentives
is wide: from cash grants and low interest
loans to export guarantees. Therefore individual
consultations are required to determine
the available incentives. Austria, however,
must not grant subsidies in excess of the
level accepted by the EU.
Incentive
Cash Grants
Jobs
must be created in economically depressed
areas. Companies invest a negotiated amount
for each job created and the employment
must last for at least 3 years.
Grants for company premises, machinery
and equipment are not taxed as income;
Grants or subsidies to create or maintain
jobs may be tax free depending on circumstances.
The
Tax Reform Act 2000 provided for a substantial
enhancement of the tax incentives for R&D.
After the reform, Austria found itself among
the most generous countries with respect
to tax incentives to R&D.
Within the framework of the Tax Reform Act
2000, the allowance for research expenditures
in connection with “economically valuable”
inventions was increased from 18% to 25%
(maximum) and the allowance for additional
research expenditures (over and above a
moving average of the expenditure over the
past three years) was increased to 35%.
The aim of the regulation was to give incentives
to increase R&D expenditures.
Until
2006, 41% of Austria’s land area was eligible
for support under various EU structural
fund programs. The Austrian federal, provincial,
and local governments also provide financial
incentives within EU guidelines to promote
investments in Austria.
Incentives
under these programs are equally available
to domestic and foreign investors, and range
from tax incentives to preferential loans,
guarantees and grants. Most of these incentives
are available only if the planned investment
meets specified criteria (e.g., implementation
of new technology, reducing unemployment,
etc.). Tax allowances for advanced employee
training and R&D expenditures are available.
The
government has merged various institutions
providing financial incentives into a “one-stop
shop” named the Austria Wirtschaftsservice.
The
Innovation & Technology Fund
Grants
are given up to a maximum of 50% of project
costs for technology transfer, IT costs,
transport projects, software engineering
or energy projects.
SMEs are offered subsidised loans (2-4%
benefit) for up to 70% of investments made
into environmental protection technology
and for some other purposes; both tangible
and intangible assets are covered.
The
ERP Fund will prepare a package of subsidies
for investors tailored to individual planned
investment:
ERP
Fund
Renngasse 5
A-1019 Vienna
Tel: 00 43 1 53464 x 4000
Research and Technical Development
The
Research Promotion Fund for Industry and
Commerce offers support for R & TD Projects
up to 50% of the project in the form of
a combination of loans and grants. Applicants
must show that the project will improve
the structure and productivity of the Austrian
economy.
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