Fund Taxation e-alert - Issue 2016-01 | KPMG | LU

Fund Taxation e-alert - Issue 2016-01

Fund Taxation e-alert - Issue 2016-01




KPMG in Luxembourg


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Austrian Tax Update

New Austrian Fund Tax Reporting regime has been postponed

The Austrian Ministry of Finance has recently published information saying that the new “Tax Reporting Ordinance 2015” will be postponed by two additional months, from 4 April to 6 June 2016.

The last filing under the current reporting regime will be possible until 3 June 2016 (4 pm CET).

Completion of required additional static data with the OeKB (Oesterreichische Kontrollbank) may now be done between 15 April and 13 May 2016.



On 24 June 2015 the Austrian tax authorities issued new Austrian Tax Reporting Guidelines for domestic and foreign investment funds which shall now come into force on 6 June 2016 instead of 4 April 2016.

Under the new rule, the tax figure submission process for the annual reporting will be more formalised and structured. The new process requires the tax representative to complete and submit a standardised tax form to the OeKB. Based on this tax form, the OeKB calculates the tax figures and the tax representative then has to verify with the OeKB that these figures are indeed correct. This process is more standardised, detailed, and tax-relevant compared to what it used to be (and in most cases it is optional for foreign funds).

Under the new guidelines, initially filed figures can be updated until 15 December of each calendar year in the event of changes to the previously reported numbers. This includes incorrectly reported physical distributions.


Static data of your funds must be updated

Reporting funds currently listed need to provide additional static data to the OeKB between 15 April and 15 May 2016 in accordance with new AIFMD regulations and the inclusion of alternative investment funds (AIFs) in the new reporting format. The static data template needs to say whether a fund has to be qualified as a regular investment fund (UCITS), a real estate fund, an AIF, or a real estate AIF. Furthermore, the status of the fund (active, in liquidation, liquidated, or merged) has to be reported. We expect that a new template will be published soon by the OeKB.

Austrian investors in Luxembourg funds

As Luxembourg is a hub in the investment fund industry, the potential of having Austrian investors in any of these funds is high. In Luxembourg, information about Austrian tax reporting can be hard to come by, and may pale against other more prominent regimes such as Germany or the United Kingdom. It is therefore quite important to know your client base, so as to avoid unfavourable lump-sum taxation measures from the Austrian tax authorities and to assure your investors that all areas are covered.

For further information, please contact 


Value for Clients – “All ATAX requirements are handled by KPMG Luxembourg“

A leading team of Austrian tax experts located here in Luxembourg at KPMG can act as a central point of contact and help to guarantee smooth transitions and operations with minimum involvement and maximum control for clients.

We are also happy to announce that KPMG Luxembourg has been accepted by the OeKB in Austria as an official Austrian Tax Representative.


For further information, please do not hesitate to contact us.







The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


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