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© AdobeStock / joyfotoliakid
The Chamber of Tax Advisors and Auditors has set up a two million euro coronavirus relief fund. The aid package is intended to cushion existential loss of fees. Tax advisors and auditors receive monthly support of up to 1,500 euros from the chamber for a period of up to four months.
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The Chamber of Tax Consultants and Auditors (KSW) fears that smaller corporations and sole traders will be hard hit by the corona virus crisis. They are the ones who have worked for 95 percent of domestic companies around the clock in the past two months and have implemented the short-time, hardship and aid fund regulations put together by the federal government for the financially hard-hit economy. Now tax advisors and auditors are also threatened with a loss of revenue due to the coronavirus crisis.
“We have to reckon with the fact that our profession, albeit with a time lag, will have to struggle with the consequences of the crisis. It will be particularly hard for small law firms and those colleagues who will experience massive slumps from a low level of income and sales. In spite of all immediate measures for the economy, it quickly became clear that unfortunately not all of our clients will survive this crisis and that the consultancy effort can either not be fully billed or the billed services cannot be paid for, “says Klaus Hübner, President of the Chamber of Commerce Tax consultant and auditor (KSW).
The Chamber of Tax Advisors and Auditors, which represents 8,000 tax advisors across Austria, is now making a € 2 million aid package available for cases of hardship.
Fast and unbureaucratic help in times of coronavirus
“We will release part of our reserves and have set up a hardship fund for colleagues in need so that we can help quickly. Up to 6,000 euros are quick and unbureaucratic. Especially in times like these, the profession must show solidarity, ”commented Hübner.
Tax advisors and auditors, particularly hard hit by the crisis, receive monthly support of up to 1,500 euros from KSW for a period of up to four months. The amount depends on the respective income. Other prerequisites include self-employment before 2020 and a COVID 19-related loss of sales of more than 50 percent compared to the previous year.
“The extent to which the crisis will also affect tax advisors and auditors cannot currently be estimated. It was therefore all the more important for us to act quickly before some of our members could no longer make a living due to loss of income due to the existence-threatening loss of income, ”emphasizes KSW President Klaus Hübner.
The most important links from authorities and institutions for companies related to the corona virus can be found here.
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