TAXES IN SWITZERLAND
Switzerland is known for being a tax-efficient country to start a business.
If until now the rate has varied a lot from one canton to another, the people validated the RFFA reform project.
Today, in the canton of Geneva, companies whose main activity is carried out abroad are taxed at 11.6% while the ordinary rate is 24.2%. This Swiss tax system no longer complies with the requirements of the international community, so from 1 January 2020 the corporate tax rate should be unified in Switzerland to be between 13% and 17% for all companies.
An detailed explanation is outlined in Wikipedia about taxes in Switzerland and on this page we are developping VAT and business insurance.
important points to consider for: TAXES IN SWITZERLAND
VAT Value added taxes
RC Third party liability
Business Related Insurances
check vat status
1st year turnover >100’000
check on receipt of filing
registration TP (Geneva only)
obligation to register
RC Third party insurance
You need to have a basic insurance protection regarding third party risk and commercial risk. Your insurance company or broker can advise you accordingly. Synergix has a partnership with Qualibroker, one of the largest Swiss brokers.
Depending on your activity, you might be considering other types of insurance coverage like:
- Keyman insurance
- Professional indemnity insurances
- Other business-related insurance coverage
the swiss tax system challenges
The government has developed the new RFFA proposal to meet the two challenges still present in Switzerland : to propose a taxation companies in accordance with international standards while still being competitive and fund the AVS.
On May 18th 2019, this reform project was accepted by the population and will be implemented in January 2019.
We have written an article detailing the changes for your company.
corporate taxation (income tax) comparison
Source : KPMG – Clarity on Swiss Taxes
Why is accounting so important for your company?
After launching a business, the way the day to day is handled has a significant influence on your company’s success. Whether it is about managing your business, benefiting from tax deductions or making the right decisions, your company’s accounting is a powerful tool to increase profits and improve your efficiency.
Do you still have doubts or questions?