Bureaucracy in sight: Companies in Salzburg are facing new reporting obligations!

Bureaucracy in sight: Companies in Salzburg are facing new reporting obligations!

In the state of Salzburg, around 200 companies face new challenges: They have to bring their “sustainability reporting” up to date according to a new EU directive. This decision ensures a lot of conversation, because economist Sabine Urnik is concerned about the increasing bureaucratic burden. "The requirements have risen extremely in a short time," says Urnik, pointing out the promise of the EU Commission to reduce bureaucratic hurdles by 25 to 35 percent. According to Molden, February will show whether this hope is true.

economic transparency for the state

The Credit Protection Association 1870 supports the new reporting obligations because they should lead to a more transparent business and thus also to improve tax payments. Manager Ricardo-José Vybiral emphasizes that such reports are important to protect companies and to avoid insolvency risks. Tax advisor Anna Kraus also emphasizes that honest behavior in tax management not only benefits the company, but also to the state. The damage caused by tax evasion amounts to billions annually, which makes it all the more important that companies take their tax obligations seriously.

In addition, country reports for multinational companies bring important findings for the financial authorities, as can be seen from the information from Destatis.de. These reports help to check cross -border group structures and provide necessary data on the amount of the company profits and to check special benefits. Such statistics are crucial for the further development of the tax system and the analysis of tax policy measures. Corporation tax statistics play a central role in this, because it provides information about the tax burden on companies and is indispensable for sound calculations on the effects of tax reforms.

Overall, the current developments show how important economic transparency and loyal tax behavior are in order to support the financial situation of the state and to promote responsible corporate management in global competition.