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Switzerland Eyeing Tax Regime Improvements

by Ulrika Lomas, Tax-News.com, Brussels

08 February 2021


A group of experts assessing the Swiss tax regime has drawn up an action plan on improving Switzerland's international tax competitiveness.

The group is comprised of representatives from the Confederation, the cantons, and academia. It was tasked by a member of the Federal Council with drawing up policy options to strengthen Switzerland as a tax domicile. The Federal Department of Finance intends to submit measures based on the group's recommendations to the Federal Council for a decision by the end of June.

The group identified 16 policy options, including improving tax relief for research and development activities and reducing the tax burden on company-held assets. The group also recommended that the Government should relax the rules regarding losses, as currently losses may only be carried forward for up to seven years.

According to the Government, some of the measures proposed are already being considered in draft legislation, including reform of the withholding tax on interest, the repeal of the issuance stamp tax on equity capital, the partial abolition of the transfer stamp tax, and the introduction of a tonnage tax regime.

TAGS: tonnage tax | tax | tax incentives | interest | transfer pricing | withholding tax | stamp duty | Switzerland | tax breaks | research and development | BEPS

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