Switzerland is to decrease taxes.

30.04.2014

Swiss Federal Council considered results of consultations between cantons about corporate tax reform. The upcoming changes in legislation suppose to strengthen the competitiveness of Swiss tax system, especially in the light of modifications in international taxation.

The corporate tax reform proposes the decrease of corporate tax. For example, canton Vaud plans to reduce the corporate tax from 22, 8% to 13,8% in 2020.

Ministry of Finance is supposed to prepare the project of the law in September, 2014 with consideration of cantons’ proposals in mind. New norms of Swiss legislation on the corporate taxation suppose to enter in force in 2018-2020.

Sources:  http://www.efd.admin.ch/dokumentation/medieninformationen/00467/index.html?lang=en&msg-id=52818, http://www.vd.ch/themes/etat-droit-finances/impots/impots-societes-personnes-morales/benefice/, http://www.efd.admin.ch/themen/steuern/02720/index.html?lang=de  

Expert’s opinion

The last international trend of transparency of financial transactions and reduction of the tax sizes leaves no doubt that everything will become easy and simple/

Meanwhile, Switzerland, who has practically lost its bank secrecy, decides to allure investors with the most well-tried method: reduction of the tax sizes will definitely be attended by the whole world. The corporate tax is planned to be reduced by different cantons by the amount from 10% to 60%.

Irina Lomakina ( Director of Moscow office of “Honest&Bright” Company)