Consultation on the Swiss tonnage tax opened
On February 24, 2021, the Federal Council opened the consultation procedure on the federal law on tonnage tax on seagoing vessels. The introduction of the tonnage tax would ensure Switzerland's competitiveness in this area. In addition, the tonnage tax is a globally accepted instrument for promoting international shipping. Under the tonnage tax system, the profit of qualifying shipping companies is determined as a lump sum based on cargo volume (net tonnage). In addition, the tax is intended to favor ecologically advantageous ships. The federal government does not provide any information on the expected loss of tax revenues. However, based on experience in other countries, it can be assumed that the introduction of the tonnage tax will have a positive effect on the industry and is therefore likely to increase tax revenues in the medium to long term.
We will keep you informed about the outcome of the consultation and a possible implementation.
February 2021 | Authors: Dr. Samuel Bussmann, Joel Bernhard
Your team
Dr. Samuel Bussmann
Tax Partner
Email
Joel Bernhard
Tax Consultant
Email
Services
From the magazine
Stamp duty taxes, foreign insurance premiums
The federal stamp duty law is also applicable in the Principality of Liechtenstein pursuant to the Customs Union Treaty between Switzerland and the Principality of Liechtenstein. The payment of insurance premiums by a Liechtenstein policyholder to a foreign insurer may result in the Liechtenstein policyholder having to declare and pay the stamp duty taxes to the Swiss Federal Tax Administration (FTA). The FTA has recently made Form 12 FL available to Liechtenstein policyholders.
R&D Super-Deduction
With the acceptance of the Tax Reform and AHV Financing ("TRAF") by the Swiss voters, various tax incentives were introduced in the Federal Act on the Harmonisation of Direct Taxes (FTHA). Among others, the cantons can allow an additional deduction for research and development carried out in Switzerland ("R&D super-deduction").
All magazine reportsPublications
Dr. Peter Brülisauer
Transfer Pricing bei komplexen Geschäftsmodellen / Erfahrungen aus der Praxis
Dr. Peter Brülisauer
Gewinnermittlung im Lichte von Art. 25b StHG