Trade Name Law and Trademarks Quiz
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Questions and Answers

Which type of tax is levied directly from the person that will ultimately bear the economic burden resulting from the tax?

  • Indirect tax
  • Payroll tax
  • Value added tax
  • Direct tax (correct)

    • What is the minimum corporate income tax that must be paid by GmbHs in Austria?

  • Minimum tax of EUR 11,000
  • No minimum corporate income tax
  • 25% corporate income tax
  • Small profits tax (correct)

    • Who is subject to unlimited liability for personal income tax in Austria?

  • Sole proprietors (correct)
  • Corporations
  • Foreign residents
  • Partnerships

    • What is the tax rate for the first EUR 11,000 of annual income in Austria?

    <p>0%</p> Signup and view all the answers

    Which trademark infringement rationale is based on the idea that no one should exploit or impair the reputation associated with a well-known trademark?

    <p>Higher level of protection</p> Signup and view all the answers

    Which company form requires a minimum share capital of at least EUR 35,000?

    <p>Limited Liability Company (GmbH)</p> Signup and view all the answers

    Which company form has the option of establishing one-person companies electronically via the USP portal?

    <p>Limited Liability Company (GmbH)</p> Signup and view all the answers

    Which company form has the mandatory bodies of Management Board, Supervisory Board, and General Meeting?

    <p>Public Limited Company (AG)</p> Signup and view all the answers

    Which company form has a minimum share capital of at least EUR 70,000?

    <p>Public Limited Company (AG)</p> Signup and view all the answers

    Which company form allows for the option of a European or foreign company form?

    <p>Societas Europaea (SE)</p> Signup and view all the answers

    According to the text, what is the purpose of a trade name?

    <p>To distinguish the company from other companies</p> Signup and view all the answers

    What is a trade name based on the name of an individual subject to unlimited liability called?

    <p>Namensfirma</p> Signup and view all the answers

    What is the duration of a national trademark according to the Trademark Protection Act?

    <p>10 years</p> Signup and view all the answers

    What is the main function of a trademark?

    <p>To identify products or services</p> Signup and view all the answers

    What is the difference between a trade name and a trademark?

    <p>A trade name is used to identify products or services, while a trademark is used to protect the company name</p> Signup and view all the answers

    Which type of company has partners who are fully liable with their business as well as their private assets and without limitation?

    <p>General partnership (Offene Gesellschaft OG)</p> Signup and view all the answers

    Which type of company has partners who are personally and jointly liable for the company's debts, including with their private assets, without any limitation?

    <p>General partnership (Offene Gesellschaft OG)</p> Signup and view all the answers

    Which type of company has partners who have limited liability, with at least one partner having unlimited liability?

    <p>Limited partnership (Kommanditgesellschaft KG)</p> Signup and view all the answers

    Which type of company has shareholders who have no direct or personal liability?

    <p>Private Limited Company (Gesellschaft mit beschränkter Haftung, GmbH)</p> Signup and view all the answers

    Which type of company can be established by only one person?

    <p>Private Limited Company (Gesellschaft mit beschränkter Haftung, GmbH)</p> Signup and view all the answers

    Which of the following statements about sole proprietorship in Austria is correct?

    <p>Sole proprietors can choose a trade name and must use the designation 'eingetragener Unternehmer'.</p> Signup and view all the answers

    What triggers the formal accounting duties for sole proprietors in Austria?

    <p>Having a turnover of EUR 700,000 in each of two consecutive business years</p> Signup and view all the answers

    Which of the following is a characteristic of business partnerships in Austria?

    <p>Business partnerships require formalities to establish.</p> Signup and view all the answers

    What is the difference between sole proprietorship and business partnerships in Austria?

    <p>Sole proprietors can operate the business alone, while business partnerships require multiple owners.</p> Signup and view all the answers

    What is the liability of a sole proprietor in Austria?

    <p>The sole proprietor is liable for debts with business assets and private assets.</p> Signup and view all the answers

    Which of the following is a motivation for online companies to have their establishment in a place with low taxes and make profits elsewhere?

    <p>To benefit from public institutions and infrastructures</p> Signup and view all the answers

    Under the Digital Tax Act 2020 in Austria, what is the tax rate applied to online advertising services?

    <p>5%</p> Signup and view all the answers

    What is the global minimum corporate tax rate (GMCTR) agreed upon by leaders of 136 countries worldwide?

    <p>15%</p> Signup and view all the answers

    Which of the following is NOT a requirement for online advertising services to be subject to digital tax in Austria?

    <p>Having a worldwide annual turnover of at least EUR 750 million</p> Signup and view all the answers

    What percentage of the largest multinational companies' profit that is in excess of 10% of revenue can be taxed by countries where the revenues are earned?

    <p>25%</p> Signup and view all the answers

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