The Swiss Federal Council on 13 November 2019 approved ordinances that will implement the 2020 tax reform measures concerning the patent box regime, the notional interest deduction, and a credit on foreign withholding taxes.
The Swiss federal law on tax reform and AHV financing (TRAF) is effective 1 January 2020. Up to now, various ordinances (new and existing ones to be amended) that are intended to implement the tax reform measures have only been available in draft format during in the course of the consultation procedure. The Federal Council this week approved three ordinances that will be effective 1 January 2020.
In general, the final version of these three ordinances reflect only minor changes from the draft versions.
Read a November 2019 report prepared by the KPMG member firm in Switzerland
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