Austria

Financial Reporting Obligations for Companies in Austria

1. Registry for Financial Statement Submission

In Austria, companies must submit their financial statements to the “Firmenbuch” (Business Register) ( https://www.justiz.gv.at/ ), which is maintained by the Federal Ministry of Justice. The official filing is made via the Austrian Business Service Portal “USP – Unternehmensserviceportal” ( https://www.usp.gv.at/ ).

2. Legal Forms Required to Publish Financial Statements

Legal Forms Obligated to Submit Financial Statements:

  • Aktiengesellschaft (AG) – Joint Stock Company
    • Explanation: A company with its capital divided into shares, suitable for large businesses.
    • Obligations: Required to submit financial statements to the Firmenbuch and undergo external audits if criteria are met.
  • Gesellschaft mit beschränkter Haftung (GmbH) – Limited Liability Company
    • Explanation: Common for SMEs; provides limited liability to shareholders.
    • Obligations: Must submit financial statements; audits depend on size thresholds.
  • Offene Gesellschaft (OG) – General Partnership
    • Explanation: Partnership with unlimited liability of all partners.
    • Obligations: Submission required if revenue exceeds the legal threshold (€700,000 for two consecutive years).
  • Kommanditgesellschaft (KG) – Limited Partnership
    • Explanation: At least one partner has unlimited liability; others limited.
    • Obligations: Same reporting trigger as OG (threshold-based).
  • Europäische Gesellschaft (SE) – European Company
    • Explanation: EU-wide company form for cross-border operations.
    • Obligations: Must submit financial statements; audit rules align with AG.
  • Genossenschaft – Cooperative
    • Explanation: Cooperative entity for members’ mutual benefit.
    • Obligations: Must submit financial statements; audits if thresholds are met.

Legal Forms Not Obligated to Submit Financial Statements:

  • Einzelunternehmen – Sole Proprietorship
    • Explanation: Business owned by a single individual.
    • Notes: No filing unless specific turnover thresholds are exceeded or the business incorporates into another legal form.
  • Freiberufler – Freelancer
    • Explanation: Regulated professions (e.g., doctors, lawyers).
    • Notes: No filing unless registered as GmbH or other obligated form.
  • Gesellschaft bürgerlichen Rechts (GesbR) – Civil Law Partnership
    • Explanation: Simple partnership without legal personality.
    • Notes: Not required to submit financial statements.
  • Verein – Association
    • Explanation: Typically non-profit organization.
    • Notes: Filing only if conducting commercial activities or above size thresholds.

3. Audit Requirements for Financial Statements

External audit obligations depend on legal form and size criteria.

Legal Form Rule Criteria
Aktiengesellschaft (AG) Mandatory external audit for large companies Meet ≥2 of: total assets ≥ €4.84m; revenue ≥ €9.68m; >50 employees
Gesellschaft mit beschränkter Haftung (GmbH) Audit required if thresholds are met Meet ≥2 of: total assets ≥ €4.84m; revenue ≥ €9.68m; >50 employees
Offene Gesellschaft (OG) Conditional audit based on size Revenue exceeds €700,000 for two consecutive years
Kommanditgesellschaft (KG) Conditional audit based on size Same as OG (threshold trigger)
Europäische Gesellschaft (SE) Same audit requirements as AG Meet ≥2 of: total assets ≥ €4.84m; revenue ≥ €9.68m; >50 employees
Genossenschaft (Cooperative) Audit required if thresholds are met Similar thresholds to GmbH/AG

Key Audit Criteria (most forms): audit is mandatory if the company meets at least two of the following: total assets ≥ €4.84m; revenue ≥ €9.68m; >50 employees.

4. Stock Exchange Listing and Reporting Requirements

Companies listed on the Vienna Stock Exchange (Wiener Börse) ( https://www.wienerborse.at/ ) must publish their financial statements on that platform.

5. Deadlines for Submission of Financial Statements

  • AG, GmbH, SE, Genossenschaft: submit within nine months after fiscal year-end.
  • OG, KG: if filing is required, submit within the same nine-month period.

6. Partial Financial Statements Submission

  • Small companies (especially smaller GmbHs below audit thresholds) may submit simplified financial statements with reduced disclosures.

7. Consequences of Late Submission

  • Fines: up to €3,600 for late submissions.
  • Additional penalties: repeated non-compliance can increase fines.
  • Striking off the register: in severe, persistent cases.

8. Requirements for Foreign-Owned Branches and Newly Established Companies

  • Foreign-owned branches must adhere to the same rules as domestic companies.
  • Newly established companies: first financial statements due within nine months after the end of the first fiscal year.

Sources

Source Link
Firmenbuch (Business Register) https://www.justiz.gv.at/
USP – Unternehmensserviceportal https://www.usp.gv.at/
Wiener Börse (Vienna Stock Exchange) https://www.wienerborse.at/
Justizministerium (Federal Ministry of Justice) https://www.justiz.gv.at/
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