Lower interest on voluntary federal tax prepayments
Published: Thursday, Sep 19th 2024, 11:10
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There will be less interest for voluntary advance payments of direct federal tax in the coming year. The Department of Finance has reduced the interest rate from the current 1.25 percent to 0.75 percent.
The interest rate for late payments, refunds and conditional payment obligations for federal taxes and duties is also falling, from 4.75 percent today to 4.5 percent. The federal government is reacting to the falling interest rates, as was reported in a press release on Thursday.
Due to the lower interest on late payments and refunds, the federal government must expect an estimated CHF 6 million less revenue. For the cantons, which receive money from direct federal tax, it is one million francs. The estimate does not take into account how the lower interest rates will affect the behavior of taxpayers.
The new rates apply to VAT, direct federal tax, withholding tax, tobacco tax, beer tax, automobile tax, mineral oil tax, tax on distilled spirits, customs duty, stamp duty, performance-related heavy vehicle tax, CO2 tax, incentive tax on volatile organic compounds and supplementary tax.
©Keystone/SDA
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