Kraus-Winkler: From 2024, new relief will also apply to tourism businesses

2023-12-29 14:52:20

Vienna (OTS/BMAW) – With the new year, corporate tax will be reduced from 24 percent to 23 percent. “This gives Austria’s tourism businesses a little more leeway for investments or can further strengthen their equity capital. Together with the relief in terms of the eco-innovation allowance, additional wage costs and energy taxes, this will make it possible to contribute to improved profitability for companies,” said Tourism State Secretary Susanne Kraus-Winkler.

Here is a calculation example: For example, a hotel with an annual energy consumption of 800,000 kw/h of electricity and 154,000 m3 of gas will make a profit of 500,000 euros in 2024 (before investment allowance and reduction in additional wage costs). In addition, a solar system with storage will be installed for 75,000 euros, for which funding was awarded by the KPC. The gross salaries paid for the 50 employees amount to 2.5 million euros. In total, this hotel would receive a total annual relief of around 38,847 euros thanks to these tax and duty reliefs.

“The winter season so far has got off to a good start despite the challenges for the industry. With these reliefs, the federal government is taking the right measures to further relieve the burden on investment-intensive tourism businesses in times of increased costs. Value creation and jobs in tourism must continue to be secured as best as possible,” said Kraus-Winkler.

Questions & Contact:

Federal Ministry of Labor and Economics
Maximilian Spera, BA BA
Press officer of the State Secretary for Tourism
[phone]
[e-mail]

Federal Ministry of Labor and Economy
Press Department – Economy
[e-mail]

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