Companies should be able to deduct losses from taxes for longer.
Published: Wednesday, Jun 28th 2023, 09:11
Updated At: Friday, Oct 13th 2023, 14:12
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Companies will be able to deduct losses from taxes for a longer period of time, ten years instead of seven. The Swiss Federal Council has proposed changes to the Federal Direct Tax Law and the Tax Harmonisation Law in a consultation. The extension of the loss offset period was requested by Parliament. The change is intended to help companies affected by the Covid-19 pandemic to recover. The amendment will apply to losses from 2020 onwards, according to the Federal Tax Administration (FTA). The new rules are intended to benefit all businesses, not just those affected by the pandemic. Start-ups that require a longer start-up period before they make a profit could also benefit. The federal government, cantons and municipalities will have to expect financial losses from 2028. The losses are expected to be relatively small in typical years, but cannot be estimated precisely. The consultation period ends on 19 October.
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