On 21 March 2018 following public consultation, Switzerland's Federal Council published its revised Tax Proposal 17 (TP 17), and parliamentary debate will now begin.
For background on this draft bill, please refer to our previous articles: Swiss Parliament agrees on CTR III and Swiss voters reject Corporate Tax Reform III.
Timeline
The expectation is for parliamentary debate to be completed by September 2018. Subject to a popular referendum possibly being called again, TP 17 may partly enter into force as early as 2019, with the remaining in 2020.
What is noteworthy in the draft bill?
Those following Switzerland's TP 17 will note that not much has changed since the draft that was put out for public consultation. Among other points, the tax neutral step-up, abolishment of preferential tax regimes and reduced cantonal corporate income tax rates stay in, while the much-discussed notional interest deduction stays out.
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In light of TP 17, TMF Switzerland can assist you in reviewing your current set-up in Switzerland, and refer you to local tax counsel where necessary.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
