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Our research revealed five key trends that resonated with industry leaders around the world.

COVID-19 has been an unprecedented shock for the global aviation industry, resulting in fleets of idle aircraft, empty airports and a huge drop in passenger numbers. And while large-scale vaccination programmes offer hope, some level of disruption looks set to remain for a significant period of time.

The next decade is likely to be a period of significant change for the automotive industry. Emerging technological innovations, government policy around sustainability and changing business models mean that Original Equipment Manufacturers (OEMs) and suppliers will all need to adapt.

In the following, we will provide you with an overview of the VAT changes associated with the e-commerce package, which, due to COVID-19, will now only come into force on July 1, 2021 (instead of originally on January 1, 2021).

The hotel industry is used to dealing with disruption, but never on this scale. While previously only localised events like hurricanes could result in long-term closures, 2020 saw a widespread drop-off in customers looking to stay in hotels.

The imposed entry bans to contain the Corona pandemic have turned the work organization of many businesses upside down from one day to the next. Since the outbreak of the pandemic, work could no longer be performed on site in many industries. Some companies therefore (forced) to switch to home offices.

In the course of the Corona Pandemic, insolvency law was alcorona, covid-19so adapted to support companies that went into financial difficulties as a result of COVID-19.

The social partners have agreed on a further extension of short-time work. As of 1 April 2021, short-time work phase IV can be applied for currently for another 3 months until 30 June 2021. A gradual phase-out of Corona short-time work is planned from July 2021.

The Austrian Federal Ministry of Finance has updated the income tax guidelines regarding the taxation of foreign employers without a permanent establishment, which changes last year’s amendment and aligns it to the legal situation before January 2020. A permanent establishment for payroll purposes is defined as any fixed local facility or establishment maintained by the employer in the country for a period of more than one month, if it serves to carry out the activity performed by the employee.

The retail sector is the largest industry in Austria - more than 400,000 employees and around 15,000 apprentices are employed in this sector, for which the corresponding collective trade agreement. The "OLD" salary system, which has been in place for 45 years, must now be replaced by the "NEW" salary system by every company by December 31, 2021 at the latest. In the following article we would like to summarize the most important key points of the changeover.

In order to cushion the economic impact of the Corona pandemic, reorganization under insolvency proceedings will be facilitated. In any case, the affected companies will have longer in 2021 to implement their reorganization plans.

Over the course of the past decade, the importance of sustainability has increased significantly all over the world – not only in terms of how individuals live their lives, but also how governments frame policy as well as how businesses develop operating models and plan for the future.

In order to provide further support to those entrepreneurs and business owners who are particularly affected by the renewed lockdown in November, the government has announced adjustments to phase III of the short-time work program.

The economic turbulence caused by the global coronavirus pandemic has left many mid-market business leaders finding access to finance restricted. Against this backdrop, leaders are increasingly looking at private equity finance (PE) as a funding option. However, some remain nervous about partnering with the industry. Here we explore some of the common myths we come across when speaking to mid-market businesses about PE investment.

At a time when access to finance is proving critical to many, mid-market businesses are looking beyond traditional sources and turning to private equity to fund their growth. Our specialists explore how private equity firms are now working with their portfolios and how the mid-market can benefit from investment.

With deals coming back to market, four private equity specialists shed light on current deal flow, where opportunities for private equity firms will lie in the future and how they can adapt to realise them.