Auditing increases the reliability of your corporate information for all decision-makers - it's all about credibility and trust. This applies to the statutory...
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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Audit of annual and consolidated financial statements
We place particular emphasis on customized solutions and international service and adapt our services to your needs.
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Accounting in accordance with UGB, US-GAAP or IFRS is in constant motion. The integration of new regulations into their own accounting systems poses special challenges for companies.
At Grant Thornton, tax is a key part of our organisation and our award-winning teams can offer you a range of solutions, whatever the size of your business or...
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Accounting & Tax Compliance Services
Grant Thornton Austria - Your Partner for Experts for Accounting & Tax Compliance Services. In an evolving regulatory landscape, efficient accounting, tax compliance, and financial statement preparation processes are crucial for maintaining an accurate and up-to-date view of your company’s financial position while ensuring compliance with all legal requirements. We provide tailored solutions that not only save your time and resources but also ensure compliance with complex regulations. Our experts are here to support you, allowing you to focus on your core business.
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Payroll & People Advisory Services
Ensuring Compliance, Efficiency, and Strategic HR Solutions In an evolving legal landscape, it is crucial for companies of all sizes to have efficient and legally compliant payroll accounting systems. The ever-changing regulations and increasing complexity make this an ongoing challenge. At Grant Thornton Austria, we provide comprehensive, precise payroll processing as part of our Payroll & People Advisory Services. Additionally, we offer customized advisory services to help clients optimise their HR strategy, improve operational efficiency, and minimize potential risks.
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Tax Controversy Services
Your Partner when it matters most! In increasingly complex environment and considering frequent changes in tax regulations, businesses are facing intensified scrutiny from tax authorities. This has resulted in a significant rise of complex tax audits, investigations and potential disputes. Our Tax Controversy Services are tailored to help you navigate these challenges proactively and effectively. Our experts will guide you through all stages of tax proceedings, ensuring robust defence of your position and advising you on preventive measures to minimize the risk of future tax disputes.
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Tax Technology Services
Your digital partner for an efficient future! In an increasingly digitalised business world, companies must constantly look for optimisations and adjustments to ensure their long-term success. In order to best prepare for the future and to achieve efficiency increases and process optimisations in the digital area, the experts at Grant Thornton Austria are at your side as a reliable partner as part of our Tax Technology Services.
As your business grows, our advisory services are designed to help you achieve your goals. Successful growth often means navigating a complex array of...
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Valuation
Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Forensic Services
When it comes to risks in business, our experts are on hand. We support you not only in suspicious cases or in disputes, but also develop suitable strategies in the area of prevention to avoid serious cases as far as possible. Our Cyber Security team helps you to keep your networks and applications secure and is quickly on hand in the event of a security leak.
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Cyber incidents, IT system failures, the resulting business interruptions and the loss of critical data are one of the greatest business risks for companies. Recent cases underline the need for strategic protection and awareness of the issue and require a holistic approach and technical expertise that takes into account all legislative, regulatory and technical aspects of cyber security to protect companies against the daily increase in cybercrime incidents.
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Sustainability Services
Sustainability is no longer a trend, but the only way to create a future worth living. Our experts will support you in successfully developing your sustainability strategy and preparing your sustainability reporting in compliance with regulations.
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Transaction Support
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Merger & Acquisition
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Restructuring & Going Concern Forecast
Restructuring & Going Concern Forecast: Bundled services for your strategic, operational and financial decisions offer the right answers for companies, banks, shareholders and investors.
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Internal Audit
Internal Audit helps companies and organisations to achieve their goals by analysing and evaluating the effectiveness of risk management, controls and management and monitoring processes. Internal Audit focuses on independent and objective audit (assurance) and consulting services that improve the value creation and business activities of your company.
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Blockchain and Crypto-Asset
Blockchain as a carrier technology for crypto currencies and smart contracts, among other things, is becoming increasingly important. Grant Thornton Austria offers comprehensive audit and confirmation services for block chain technologies and business models.
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Corporate & Brand Strategy
We support you in developing growth strategies for a sustainably successful future and in maximizing the potential of your brand.
Grant Thornton supports clients on their digital transformation journey. Our experts offer customised cyber security solutions for secure digital assets, use...
In addition to our service lines - Audit, Tax, Accounting & Payroll and Advisory - Grant Thornton Austria also offers international services. Our experts...
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International Project Coordination
Our International Engagement Management team is your central point of contact for international projects in all our service lines. We take care of operational project management for you and act as a central point of contact and coordination for your projects. We support companies that start international projects from Austria as well as companies from abroad that want to gain a foothold in Austria or use Austria as a hub for their international projects, especially in the DACH (Germany, Austria and Switzerland) and CEE region.
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International Desks
As a member of the Grant Thornton network, we guarantee direct access to resources from our worldwide circle of partners. This global connection enables us to seamlessly integrate highly qualified specialists and industry experts from different countries around the world into our teams. Through our broad perspective and diverse expertise, we ensure that we can optimally meet the individual requirements of our clients in an increasingly globalised economy.
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On the occasion of the current ECJ case law, the new Wage and Social Dumping Prevention Act (" Lohn-und Sozialdumping-Bekämpfungsgesetz", LSD-BG) was amended accordingly. The decisive factor for this was, among other things, a decision of the European Court of Justice (ECJ 12.09.2019, Rs Maksimovic, C-64/18) which recognized the accumulation principle in millions as a violation of the Charter of Fundamental Rights. The amendment to the Wage and Social Dumping Prevention Act was under review until 21 May 2021 and is to enter into force on 1 September 2021. The new regulations are to be applied to postings and assignments that begin after 31 August 2021.
In this Article
1. Improvement of working conditions for posted employees
There will be comprehensive regulation of Austrian labor law for employees posted or assigned to Austria from a duration of posting or assignment of 12 or 18 months. The new provisions to the LSD-BG are intended to ensure that employers comply with the wage law provisions in collective agreements as well as the minimum wage tariffs. The planned amendment will put posted foreign and domestic employees on an entirely equal footing after one year. The aim is in particular to improve the current framework conditions in order to combat unfair competition in the EU area. Thus, among other things, the national regulations on travel allowances (Section 26 EStG) for travel during postings (assignments) have been included accordingly in the LSD-BG.
2. New penalty regulations
According to the ECJ, the Austrian provisions are disproportionate due to the principle of cumulation and thus contrary to Union law. The aim of the Wage and Social Dumping Prevention Act is to improve working conditions for posted and temporary workers and to improve the enforceability and effectiveness of the provisions of the Wage and Social Dumping Prevention Act (LSD-BG).
In line with ECJ case law, proportionality is to be established by eliminating cumulation and by creating a penalty framework with a maximum limit. The new regulation therefore departs from the previous model of punishment per employee.
In the future, penalties of up to 20,000 euros can be imposed for violations in connection with reporting and readiness obligations, regardless of the number of employees affected.
In the future, penalties of up to 40,000 euros can be imposed for thwarting acts in connection with wage control, regardless of the number of employees.
In connection with underpayment of wages, a five-level penalty range, which depends on the degree of fault of the employer, is to be applied in the future. This so-called capped penalty by offense is based on the amount of remuneration withheld. According to the graduated scale, penalties of up to a maximum of €400,000 can be imposed for violations related to underpayment of wages.
3. Relaxations and changes in connection with obligations to keep wage records available
The planned law provides for measures to reduce bureaucracy. Companies will also benefit in the case of short-term postings of up to 24 hours; here, proof of service slips or work records will now be sufficient. The implementation of this regulation is intended to ensure that employers comply with the wage law provisions in collective agreements as well as the minimum wage tariffs.
Another new feature is that all documents will also be recognized in English (previously, only the employment contract in English was permissible). In the future, the wage documents can be requested by the authority up to one month after the end of the posting or assignment and must be submitted within 14 days.
Do you still have questions? Our experts Julia Saric-Bischof and Karina Chiang will be happy to assist you.