Potential March 2019 Date For Swiss Tax Referendum
by Ulrika Lomas, Lowtax.net, Brussels
04 October, 2018
The Swiss Federal Council has set the date for a potential referendum on its corporate tax reform package for May 2019.
Should a referendum be called on the Federal Act on Tax Reform and AHV Financing (TRAF), it would be held on May 19, 2019. The deadline for a referendum to be called is January 17, 2019.
TRAF (formerly known as tax proposal 17) is due to enter into force on January 1, 2020. It would abolish the special arrangements for cantonal status companies and introduce a mandatory patent box regime for all cantons. It would also provide for a relief restriction and changes to the taxation of dividends from qualified participations, and would increase the cantons' share of direct federal tax receipts.
The preparatory work for the implementation of TRAF can begin after the federal parliament has given its final vote on the reforms.
The Government has already lost one referendum on corporate tax reform. Its Corporate Tax Reform III package was rejected in a February 2017 vote.
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