Switzerland:
News - Reform Of The Zug Cantonal Tax Law
19 May 1998
Pricewaterhouse Coopers
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PLEASE NOTE: THIS ARTICLE WAS ORIGINALLY SUBMITTED BY REVISUISSE PRICE WATERHOUSE, SWITZERLAND
The revised Zug tax law will enter into force on January 1, 2001. Not many details are known yet. We will keep you informed about any more important changes.
At present, the following changes are being discussed:
Individual Taxes
Change of the assessment basis: Today the income tax is calculated on the basis of the average income of the previous two years. Under the revised law the tax will be calculated on the basis of the current year's income.
Reduction of the wealth tax rate.
Abolition of the estate and gift tax. Since the federal level does not levy any estate or gift tax, no estate and gift tax would have to paid at all if the testator or donor is resident in the canton of Zug.
Corporate Taxes
A flat profit tax rate of 7% shall be introduced. Reduction of the capital tax rate (Today between 0.5 and 1,5 per mil).
Possibly, the present participation relief will be extended to equal the revised participation relief available on the federal level since January 1, 1998. This would mainly mean that capital gains on the sale of investments would be income tax exempt. For further information on the revised federal participation relief see our November 1997 article.
The content of this article is intended to provide a general guideline to the subject matter. Specialist advice should be sought about your specific circumstances.
On April 6, 2024, the Decree Amending the Decree numbered 8313 on the Determination of Companies Subject to Independent Audit ("Decree") ("Amending Decree") was published in the Official Gazette dated April 6, 2024 and numbered 32512.
6 Nisan 2024 tarihinde 32512 sayılı Resmi Gazete'de 8313 sayılı Bağımsız Denetime Tabi Şirketlerin Belirlenmesine Dair Kararda ("Karar") Değişiklik Yapılmasına İlişkin Karar ("Değiştiren Karar") yayımlandı.
In order to ensure a high level of data protection within the
EU, the GDPR provides for strict compliance responsibility on the
part of companies processing personal data.
8313 sayılı Cumhurbaşkanı Kararı" Bağımsız Denetime Tabi Şirketlerin Belirlenmesine Dair Kararda Değişiklik Yapılmasına İlişkin Karar ("Karar")"06.04.2024 tarihli ve 32512 sayılı...
The Resolution on Determination of Companies Subject to Independent Audit ("Resolution") was published in the Official Gazette dated 30.11.2022 and numbered 32029.
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