Switzerland Gazettes Ordinance Decreasing Interest Rates for Late, Refunded, Advance Tax Payments

The Swiss Official Gazette Oct. 4 published Ordinance No. RO 2024 535, decreasing 2025 interest rates for late, refunded, and advance tax payments. The ordinance includes measures decreasing the interest rates, effective Jan. 1, 2025, to: 1) 4.5 percent from 4.75 percent for defaults, refunds, and conditional payment obligations; and 2) 0.75 percent from 1.25 percent for advance payments. The rates apply to taxes such as VAT, direct federal tax, withholding, CO2 levy, stamp duty, and the additional tax for minimum taxation of large multinational enterprise (MNE) groups. [Switzerland, Official Gazette, 10/04/24] ...