Search results
Results from the WOW.Com Content Network
However, Switzerland is unique among modern sovereign states in that the authority to levy these taxes is limited in duration and extent. [4] [5] The Constitution imposes an upper limit on the federal tax rates and causes the federal authority to levy taxes to expire in 2035. [6]
The Federal Tax Administration (FTA) (German: Eidgenössische Steuerverwaltung, ESTV, French: Administration Fédérale des Contributions, AFC, Italian: Amministrazione federale delle contribuzioni, AFC) is the federal office responsible for federal revenue collection and the application of federal tax laws in the cantons. [1]
The Federal Direct Tax (FTA) is a Swiss direct income tax. It is the main source of revenue for the federal government, followed by the value-added tax (VAT), which represent respectively 34.3% and 32.1% of the total tax receipts as of 2022. [1] There is no wealth tax at the federal level; it is levied only by the cantons and municipalities.
A tax on the super-rich pitched by the youth wing of one of Switzerland's main political parties is "extremely dangerous" for the country, a top Swiss banker said on Wednesday, pointing to ...
For premium support please call: 800-290-4726 more ways to reach us
Value added tax is structured as an all-phase tax with input tax deduction. If a taxable person provides a service to another taxable person, the former must pay the VAT on the service; the recipient can reclaim the tax paid as input tax from the Federal Tax Administration (FTA), but must also pay tax on his services to his customer.
In December 2021, the Federal Assembly passed a bill abolishing the withholding tax levied on Swiss corporate bonds, in order to make them more attractive. [ 6 ] [ 7 ] [ 8 ] The request for a referendum was granted in May 2021, [ 9 ] and the vote took place on September 25, 2022, when the people narrowly rejected the amendment to the law with ...
The federal administration of Switzerland [1] is the ensemble of agencies that constitute, together with the Swiss Federal Council, the executive branch of the Swiss federal authorities. The administration is charged with executing federal law and preparing draft laws and policy for the Federal Council and the Federal Assembly .