04 January 2017 Austria imposes cash register obligation from April 1, 2017 for monitoring financial transactions From January 1, 2016, taxable businesses in Austria are generally required to issue receipts to all customers at the time of the payment if the consideration for a value added tax (VAT)-able supply in Austria is received in "cash." Cash transactions include those where payment is made in cash, by bank cards, credit cards or debit cards, but it also includes comparable electronic payments (e.g., via mobile phone), vouchers or tokens, among others. The Austrian Government also imposed a "cash register" requirement as of January 1, 2016 for business operations (as defined by the Austrian Income Tax Law) with net annual revenue of €15,000 or more if their annual cash transactions exceed the threshold of €7,500. Document ID: 2017-0003 |
