News Taxes
Latest tips to save taxes:
The canton of Zug states in its tax book that from the 2025 tax year, it will be possible to reduce taxable equity below the paid-in share capital (including paid-in participation capital).
Did Parliament give homeowners a premature Christmas present on December 20, 2024? After decades of debate, the Parliament decided to abolish the imputed rental value just before Christmas last year.
The Swiss Federal Tax Administration published the new circular letters regarding safe haven interest rates on advances and loans in Swiss francs and in foreign currencies for 2025.
The Federal Council has created a legal basis for the taxation of cross-border commuters who telework (i.e. work from home). The new rules, which apply since January 1, 2025, will affect around 400,000 cross-border commuters and their employers.
On August 14, 2024, the Federal Council opened the consultation on determining the partner states for the automatic exchange of information (“AEOI”) on crypto assets, which ran until November 15, 2024. The AEOI on crypto assets is set to enter into force on January 1, 2026 and will be integrated into the AEOI on financial accounts.
Pay into your Pillar 3a and make individual and flexible provisions for the future. At the same time, you benefit from lower taxes, as this reduces your taxable income.
From January 1, 2025, a significant change for private pension provision will come into force: the Federal Council has decided to allow retroactive purchases into pillar 3a.
The Swiss Federal Tax Administration consistently enforces deadlines for withholding tax declarations and initiates administrative penalty proceedings with fines of up to a maximum of CHF 5,000 for delays. It is therefore strongly recommended that companies strictly adhere to the deadlines to avoid unnecessary hassle and potential fines.
The Swiss Federal Tax Administration (“SFTA”) has updated the 2020 exchange rate lists including several crypto assets.
Despite the introduction of the Automatic Exchange Of Information (AEOI) at the beginning of 2018, a unpunished voluntary disclosure is still possible.
On March 4, 2024, the federal initiative “For a social climate policy - fairly financed through taxation (Initiative for a future)” (the “inheritance tax initiative” for short) was launched by JUSO (Young socialists) Switzerland.
Latest tips to save taxes:
Even in the realm of taxation, there are opportunities to earn interest, and what's more, it's tax-free. With the generally increased interest rate environment, the topic of interest for early payments of cantonal and municipal taxes by individuals is once again in focus. Several cantons in Switzerland are now reinstating this practice, rewarding those taxpayers who settle their taxes early.
The Swiss Federal Tax Administration published the new circular letters regarding safe haven interest rates on advances and loans in Swiss francs and in foreign currencies for 2024.
Last Sunday, voters in Zug clearly approved the 8th partial revision of the Zug Tax Act with a Yes vote of 72.3%. The following changes will therefore apply from the 2024 tax year:
On Sunday, June 18, 2023, the Swiss electorate approved the implementation of the OECD/G20 project on the taxation of large corporate groups in Switzerland with a clear "Yes" (78.45%).
Federal Court decision on the deductibility of maintenance costs in the case of a total renovation
Cross boarder workers and senior executives according to DTT CH/DE and multilateral agreement on the jurisdiction in case of remote working
As of January 1, 2023, the following simplifications have occurred in connection with the notification procedure for withholding tax purposes within a group:
The Swiss Federal Tax Administration published the new circular letters regarding safe haven interest rates on advances and loans in Swiss francs and in foreign currencies for 2023.
On July 13, 2022, the Government Council of the Canton of Zurich submitted a proposal to the Cantonal Council for an increase in the deduction for childcare costs in state and municipal taxes.
The Federal Council has discussed increasing tax deductions for health insurance premiums.
With the introduction of individual taxation, in future mainly married couples with an equal distribution of income and pensioner couples will be relieved.
The Federal Council has adopted two changes to the notification procedure.
Planning 8th partial revision of the Zug tax law: Further relief planned, especially for families.
The rate correction is to be applied for the first time for the tax year 2021 and the corresponding application must be submitted by March 31, 2022 (same deadline as for the rate correction).
Save taxes by paying into your 2nd and 3rd pillars and thereby reducing your taxable income.
In future, heirs are to reclaim withholding tax on inheritance income in their canton of residence. This new regulation enters into force on 1 January 2022.
The promotion of home ownership with funds from the occupational pension plan ("WEF") is, among other restrictions, in principle only possible for owner-occupied residential property (own use) and must be repaid in the event of a sale (or economically equivalent thereto). However, the Federal Supreme Court has now rejected the repayment claim of the pension fund in a case (BGE 9C_293/2020) with WEF advance withdrawal and later rental.
In recent weeks, a number of resolutions have been passed and changes initiated by the Federal parliament. Here is a brief overview of the most important points:
The Swiss Federal Tax Administration decides on a long overdue administrative simplification:
As the first canton in Switzerland, Zug is once again taking a pioneering role.
The people of Zug clearly said yes to the amendment of the Zug tax law to manage the financial consequences caused by the coronavirus.
The future is digital. With our new software, all tax documents are digitised and filed in the right place for further processing.
Initial Coin Offerings (ICO), i.e. the raising of capital through the release of blockchain-based coins or tokens, are currently very much in vogue.