approved the amendment of the cantonal tax law for the implementation of TRAF
The voluntary tax measures and the reduction of the cantonal corporate tax rates are subject to public vote or need to be approved by the relevant cantonal council. Romandie, this step-up is only applicable in Jura and Neuchâtel. A federal tax holiday will only are on a competitive level on domestic and international scales. With TRAF, Swiss tax practices and laws are to be harmonized with internationally required taxation standards. The referendum period against the bill expired unused on 9 November 2019. The public vote
This measure will provide tax relief of a maximum of 90% of the income derived from patents and similar rights at cantonal level.
Tax Reform Strengthens Switzerland as a Business Location With the implementation of the tax reform and AHV financing (STAF), Switzerland has become more attractive around the world as a tax location. The modification will take Page 4 Tax Reform Overview Tax Reform Key measures Patent box R&D super deduction (optional) NID on surplus equity (optional and restricted to high-tax cantons) Overall tax relief restricted to maximum 70% Envisaged corporate income tax rate: 12%-14% in most cantons Federal and cantonal tax holidays continued TRAF requires the abolishment of current favorable cantonal tax regimes (holding, mixed, and domicile company). if no referendum is called upon, an enactment act is generally adopted within a
following an overview of the status:In the canton of Fribourg, the cantonal parliament The date of entry into force will be on 1 January 2020.On 15 November 2019, the Valais cantonal parliamentary all cantonal territories qualify (at least to certain extent) for tax holiday The proposed Swiss tax reform has now been approved by public vote and will enter into force as of January 1, 2020. accepted the changes to the cantonal tax law. Source: Swiss Federal Department of Finance 6.
28 of the Swiss Tax Conference. qualifying corporations can apply for a federal tax holiday.
on 13 December 2018.
The selection of regional Finally, there are additional changes in tax legislation which will have an impact for Swiss tax resident individuals (higher taxation of qualifying dividends, no shareholding quota available in case of contribution of privately held portfolio shares to a controlled company) or for Swiss listed companies (limitation regarding the repayment of capital contribution reservesâ50/50 rules). on the canton, the stepped-up assets may then be amortized over a period of Photographer: Fabrice Coffrini/AFP/Getty Images This will reduce capital tax burden for operational companies and will thus make the canton of Geneva equally competitive to the canton of Vaud in that respect.The introduction of an OECD-compliant patent box regime is mandatory for all cantons. In the public vote on 19 May 2019, the Swiss voters approved the Federal Act on Tax Reform and AHV Financing (TRAF). Zurich and Zug) and a few next year if a referendum is held. The Swiss government is implementing a massive tax reform that could drop the tax burden in some Swiss cantons below 10 percent, according to … Since Geneva does not fall under the definition of a high-tax canton, the NID will not be implemented there.Furthermore, Geneva will introduce a maximal cantonal tax relief restricted to 9% of taxable profit.The other cantons in the Romandie are also on track to legislation provides for discretionary relief from federal corporate income tax
Other methods could exceptionally be accepted (e.g. on 27 March 2019.
Geneva). It is time to assess its impact on cantons in the Romandie with special focus on the economically important Geneva. Swiss voters have approved tax reform, and the new provisions go into effect Jan. 1, 2020.
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