3.500
%
Neutral
14
mm boe
51
%
Austrian energy legislation is fairly comprehensive with one central act regulating the sector. Activity is usually well regulated and transparent, allowing for some confidence in the sector. However, EU membership remains an unknown factor, especially when considering the EU's "top down" approach to legislation.
March 16, 2024
Europe - Central
mm bbl
bcf
Central Europe, north of Italy and Slovenia.
Concession
The tax liability for mineral oils in general arises if the taxable product is released into free circulation (i.e., by the removal from a tax warehouse). Special provisions apply to motor and heating fuels. Limited liability companies and stock companies are considered corporations within the meaning of the 1988 Corporate Income Tax Act, and subject to corporate income tax. Corporations are subject to unlimited corporate income tax if they have their seat or place of management within Austria.
Due to a strong reliance on Russian natural gas and the third-highest banking exposure to Russia among EU Member States, Austria could be one of the hardest countries hit by Russia’s war against Ukraine. Some projections estimate the impact of the war and sanctions against Russia could contribute to a 0.4 - 0.5% decrease in Austria’s GDP.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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