USR III: the present tax attractiveness of Switzerland should be preserved. © Barbara Jung

USR III: the present tax attractiveness of Switzerland should be preserved. © Barbara Jung

Corporate Tax Reform III, which was adopted by both houses of parliament in June 2016, is intended amongst other things to provide alternative mechanisms to take the place of the cantonal special status for holding and management companies, which are no longer in keeping with international standards are to be abolished. As compensation, a new patent box is to be included in the cantonal tax regimes, which will provide for a privileged treatment of income from patents and other intellectual property rights that are attributable to research and development in Switzerland. The cantons are also to have the possibility of additionally allowing increased deductions for R&D expenditure. A referendum has been called against the reform. The referendum vote will take place on 12 February 2017.

Interpharma welcomes the bill and is committed to supporting the tax attractiveness of Switzerland as a business location. The tax reform boosts domestic research and development and ensures that all companies will be uniformly taxed in the future.