The era of declining top tax rates for companies and private individuals is over, not only in OECD and EU countries but in Swiss cantons, as well. That is one of the findings presented in KPMG’s current Swiss Tax Report 2013 which compares corporate and income tax rates in 130 countries and all 26 Swiss cantons.
According to KPMG’s Swiss Tax Report 2013, the downward trend in top corporate tax rates slowed down considerably and, for the first time, the average top tax rate for individuals in Switzerland increased slightly. This puts Switzerland in sync with current developments around the world: Compared to the previous year, business taxes saw another slight drop in Switzerland while the first rate increases can be seen in EU and OECD countries as well as in the global average. There has already been a trend reversal with regard to tax rates for high-income individuals: The average rate across all Swiss cantons rose for the first time since 2008; the same applies to EU and OECD countries as well as the global average.