On 1 September 2019, the Zurich electorate voted with a 55.95% majority to accept the proposal adopted by the Zurich Cantonal Council for the implementation of TRAF in the canton of Zurich.
With the entry into force of the amendment to the cantonal Tax Act on 1 January 2020, corporate taxation in the canton of Zurich will be adjusted as follows:
Companies based in the canton of Zurich should prepare at an early stage for the above-mentioned changes, as the tax reform will entail fundamental changes. In particular, the following questions should be addressed:
With the effective date fast approaching, companies should take timely measures to prepare for the effects of the tax reform. This includes comprehensive and early planning and simulation of the effects of the various aspects of the tax reform.