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Switzerland: Update on status of corporate tax reform proposals

Switzerland: Update on status of corporate tax reform

“Tax Proposal 17”—as the legislative tax reform proposals have been known—was discussed in the first chamber of the Parliament (Council of States) on 7 June 2018. The Council of States approved the application of an economic commission with amendments.

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The amendments include counter-financing measures as well as social compensation measures. However, certain measures were rejected, including proposals for a notional interest deduction (which instead would be replaced by a deduction on equity financing). Other measures were modified including that intragroup loan receivables are to be considered when calculating the capital tax relief. 

After the debate of the legislative proposal in the Council of States, the National Council is next to discuss and consider the legislation during its autumn session (10 - 28 September 2018). Until then, the legislative proposal will be discussed by the economic commission of the National Council. A final decision of the parliament is expected in autumn 2018. If no referendum is called, the measures relevant for the companies would be effective beginning in 2020.

 

Read a June 2018 blog from the KPMG member firm in Switzerland

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