Switzerland Launches New Tax Burden Calculation Tool
The Swiss Federal Department of Finance has announced the launch of a new online tool for individuals taxpayers, which is being developed also for legal entities.
The new tool, launched on May 12, 2020, enables individuals to calculate their tax burden, historical tax burden, and get information on their tax burden under other cantons' regimes.
The Department said the new tax calculator enables individuals to calculate the tax burden on income and assets, inheritances, and pension income for all municipalities and for the years 2017 to 2019.
Taxpayers can also use the calculator to see how a change in circumstances, such as a wage increase or getting married, would impact their tax burden depending on which canton they are resident in.
In the coming months, the tax calculator will be expanded to provide tax calculations for legal entities.
Source: Pride Partners International