News: Switzerland Changes Tax Law

The Swiss authorities have adopted a number of changes that will affect the taxation of companies operating in the country. In particular, the corporate tax rate will change. Innovations will affect not all cantons, but only two - Geneva and Zurich.

Starting from April 2020, companies operating in Geneva will be obliged to pay a tax of 13.99%. As for the organizations in Zurich, they will have to pay 19.17%. The possibility of reducing the percentage to 18.19% from 2023 is also being considered. Before the reform, rates in the regions were 24.16% and 21.15%, respectively. Earlier, changes were made to the tax code of another 18 cantons. For example, in Basel City the corporate tax is 13.04%, in Basel-land it’s 13.45%, in Schaffhausen it’s 12.22%.

This is only part of the global changes that the government has planned. Previously, the country had various rates of municipal, federal and cantonal taxes. The reform provides for bringing them to common values. Switzerland plans to reduce corporate taxation to 12-15%. So far, only two cantons - Aarau (18.61%) and Berne (21.63%) do not correspond to these figures.

Law company Law&Trust offers services to companies working in Switzerland. The lawyers will tell you about all the innovations in the legislation of the jurisdiction and will help to make the calculation and pay all taxes.