Zurich voters on 1 September 2019 approved by a 55.95% majority a proposal adopted by the Zurich Cantonal Council for implementation of the tax reform plan (TRAF*) in the canton of Zurich.
*Tax Reform and AHV Financing
With approval by the electorate, the amendment to the cantonal tax law will be effective 1 January 2020, and corporate taxation in the canton of Zurich will be adjusted as follows:
Companies based in the canton of Zurich need to consider preparing for these changes and, given that the effective date is only four months in the future, begin to take steps now to prepare for the effects of the tax reform.
Read a September 2019 report prepared by the KPMG member firm in Switzerland
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