Financial benefits for employees and companies
Employees and self-employed persons save up to 50% of the program fee
No matter whether you are employed or self-employed, our MBA program fees are fully tax deductible for you. The only prerequisite is that the program is regarded as further education in the present field of occupation or as training in a related profession. Depending on your income, you can get up to 50% of the program fee back. Generally speaking, this is true for all programs offered by the WU Executive Academy.
Additionally, not only program fees are fully deductable, but also all other costs incurred (e.g. text books, reading materials, travel expenses, accommodation).
The tax advantage you enjoy directly depends on your total income. This means e.g. for Austria: If you earn more than € 51,000 per annum half of all costs will be refunded by the state. If you earn between € 25,000 and € 51,000 per annum, 43,6% 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.
Win-win situation for employers covering the program fees of their employees
Unlike bonuses, for example, 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 31% (in case of a public limited company) or 61% (in case of an individual enterprise).
As for the employers, not only program fees are fully deductible, they are also entitled to a 6% education bonus and a 20% education tax exemption.
Information about tax deductions in Austria are available at www.bmf.gv.at
Errors and omissions excepted!
