Switzerland sets 2032 start for individual taxation

Switzerland’s individual taxation system will take effect in 2032, SRF reported, citing a decision by the Federal Council on Wednesday. The government chose the latest possible implementation date, giving the cantons the maximum time to prepare.

Under the law, individual taxation must be introduced no later than 1 January 2032. The Conference of Cantonal Finance Directors welcomed the decision, according to the Federal Council.

The cantons must now amend their tax laws, review and, where necessary, adjust their tax rates and revise social deductions. Some cantons may also need to hold referendums. Swiss voters approved the federal law on individual taxation by 54.3 percent on 8 March.