Austrian parliament adopts legislation on income tax reform, ESPN Flash Report

On 7 July 2015, the National Assembly of the Austrian parliament adopted the Tax Reform Act 2015/2016. This encompassing reform comprises no less than 43 different measures, of which major changes to income tax is one of the most important. Income tax will be reduced for most taxpayers from 2016. However, the positive impact for low-income households will be rather limited.