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An overview by Tax Partner AG, Taxand Switzerland
Zurich’s cantonal council has recently approved a reduction in the corporate profit tax rate from 7% to 6%, lowering the effective tax rate for companies in the city of Zurich to 18.11% from 19.61%.
This change, part of Corporate Tax Reform III, aims to make Zurich more attractive for businesses, although it will remain near the bottom of cantonal rankings. The tax cut is set to take effect from 2025; however, the council rejected a proposal to offset this by increasing taxes on qualified dividends. The Left Party plans to call for a referendum on the decision.
Stephanie Eichenberger from our Swiss firm Tax Partner AG has provided a more detailed overview of this move here.
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