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Tax Savings for Employees and Companies
Save up to 50% of the program fee
No matter whether you work for a company or you are self-employed, tuition fees are fully tax deductible if you pay taxes in Austria. The only prerequisite is that the program can be regarded as further education for your current job or as training for a related profession. Generally speaking, this is true for all programs offered by the WU Executive Academy. Depending on your income, you can get up to 50% of the program fee back.
Individual taxes: All costs are fully deductible
Not only are program fees fully deductible but so are all other costs incurred during your study program, such as travel expenses and accommodation. The tax advantage you enjoy in the form of a tax directly depends on your total income. This means e.g. for Austria: If you earn more than € 90,000 per year half of all costs will be refunded by the state. If you earn between € 60,000 and € 90,000 per year, approximately 48% will be refunded. Other countries do have similar tax arrangements, slightly varying from the Austrian system. For detailed information in this regard please refer to the responsible institution of the respective country.
Information about tax deductions in Austria is available:
- In the Austrian Federal Ministry of Finance’s Tax Book – see section “Basic, further and re-training”
- In this overview of educational support options in Austria (use the translation feature of your browser)
Win-win situation for companies
Mutual cost reduction
- Unlike bonuses for employees, program fees are exempt from taxation (the financial advantage amounts up to 50%). And your employer benefits, too: there are no payroll related costs. Moreover, the Austrian state shares the costs with the employer and covers 25% (in case of a public limited company) or 50% (in case of an individual enterprise).
- Information about tax deductions in Austria is available at the website of the Austrian Federal Ministry of Finance www.bmf.gv.at
All information is supplied without guarantee.