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Switzerland Notes Upcoming Tax Changes

Friday, November 2, 2018

The Swiss Federal Tax Administration has published a list of changes to the tax system that will take effect over the period 2019-2021.

The list has been published in the official Swiss languages. It contains information on the following changes, effective from January 1, 2019:

  • Legislation to implement the recommendations of the Global Forum on tax transparency on the exchange of information upon request;
  • An adjustment to the too-big-to-fail regime to ease the tax burden on banks;
  • Changes to the federal law on withholding tax, regarding the right to a refund;
  • An amendment to the gaming tax regime involving the replacement of the lottery tax and the introduction of an exemption on the first CHF1m in lottery winnings;
  • An amendment to the VAT Act to implement changes to the mail order regulation; and
  • An amendment to the federal law on the harmonization of the direct taxes of the cantons and municipalities.

The following changes will be effective from January 1, 2020:

  • An amendment to the federal law on the tax treatment of financial sanctions; and
  • The federal government's competence to collect the federal direct taxes and VAT will be extended by 15 years.

The following changes will be effective from January 1, 2021:

  • An amendment to the federal law on the revision of withholding tax on earned income; and
  • The revision of the EFD withholding tax regulation.