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New Geneva tax law vote could lead to catastrophe

National News // By Tay Kinnear // April 18, 2019

It will be catastrophic for canton Geneva if voters reject a new tax law next month. 

pixabay New Geneva tax law vote could lead to catastrophe

The head of the finance department, Nathalie Fontanet, says it could cost the canton more than a billion francs in lost revenue. The current budget is 8 billion in total.

If Geneva says no, but the new tax law is passed at a federal level, it could mean companies will flood out of the canton. They will be applying tax rates of 24% - but compared to nearly 14% in Vaud and Fribourg.

Voters will be asked to change the corporate rate to 13.99%. It will mean multinationals will have to pay more – but smaller companies will see a drop in their tax payments.

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