On June 14, 2016 the Swiss Parliament issued a press release announcing that the Swiss National Council ad the Swiss Council of Sates agreed on the Corporate Tax Reform III (CTR III).

According to the press release the Councils agreed that the cantonal tax statuses for holding companies and management companies are to be abolished. In return a patent box is to be introduced for cantonal taxes. The cantons will additionally have the option of envisaging increased deductions for research and development expenditure.

According to the press release the Councils also agreed on introducing a notional interest deduction.

In the press release it is furthermore stated that the both Councils also agreed on the introduction of an adjustment at shareholder level. Under this adjustment at least 60% of the dividends paid to shareholders is to be taxed. As is the case under current Swiss law, the prerequisite to benefit from this reduction is a stake of at least 10% in the company that is paying the dividends.

According to the press release issued by the Swiss Parliament CTR III is now ready for the final vote that will take place on June 17, 2016.

Click here to be forwarded to the press release as issued by the Swiss Parliament on June 14, 2016 (which is available in the German language).

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