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Per Section 14 of the corresponding legislation, capital receivables or debts that are not attracting interest or interest at a low rate are to be assessed at a lower value than the nominal value if these are specified. The corresponding discount is to be calculated. Following the introduction of the Austrian Budget Accompanying Act (BBG) in 2003, this discount is no longer to be calculated on a linear basis but using a specific mathematical formula.
The mathematical basis for calculation was stipulated by the Austrian Ministry of Finance in its decree of 17 December 2003.
The Ministry of Finance has made available a free program that makes it possible to calculate the discount for capital receivables or debts that are not attracting interest or interest at a low rate. How accurate the results are depends on what you enter. There are help texts to guide you for each entry field. However, please note that only the notification issued by your responsible tax office has legal validity.
Personal contact with them will help them find a customised solution for your situation.