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Some tax changes in 2021

Please, find below some changes in tax matters since 1st of January 2021

Lump sum system

A new law came into force from January 2021. There are minimum levels for the canton and the confederation. Moreover some technical points have changed, such as cash in foreign currencies. This must now be included in the control calculation.

 

Brexit 

Unfortunately, rules have been modified for British citizens, due to Brexit. They can not come to Switzerland, as UE/AELE resident.

This means higher levels of lump sum for example or difficulties just to get a permit. Law could be changed in the future, but this is the current situation.

 

Corporate tax rates 

The cantonal tax law has been changed. One of the main aspect is related to the corporate tax rates.

From 1st January 2021, the net tax rate is of 11.89% until a taxable profit of CHF 200'000.- and 18.57% above. From 2022, the tax rate of 11.89% will be used until a net profit of CHF 250'000.-. The tax above will be of 16.98%.

 

Tax at source 

The withholding tax rules have been amended for both employees and employer, for example with a monthly report or concerning the canton of taxation.

 

You can contact Swiss Tax Services SA for all of these topics.