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What is a stamp duty?
Stamp duty is a tax that belongs to the indirect taxes. Any company that raises more than one million francs of equity capital is obliged to pay this tax, which corresponds to 1% of the raised amount.
Thanks to this tax, the Confederation collects about CHF 250’000’000 in stamp duties per year.
What was the vote about?
The Federal Government and the Parliament had the objective to remove the stamp duty. However, a referendum was launched to oppose the project with the risk of a direct taxes increase as an argument. The opponents of the project feared that this reform would increase the taxes for Swiss citizens.
A second argument is that it would only benefit large companies and would not concern SMEs directly. Finally, the opponents of the project do not see the need for such a reform since Switzerland is already at the top of the international competitiveness rankings.
The consequences of the vote for the Swiss economy and SMEs according to the supporters of the project
On February 13, 2022, the Swiss voters rejected the amendment of the federal law on stamp duties. Do you know what the economic impact of the rejection of the law change is?
The rejection of the amendment means that companies must continue to pay stamp duty.
More concretely, according to the supporters of the project, the abolition of the stamp duty would have reduced the costs of investments and thus would have been advantageous for the growth of the Swiss economy, especially for the creation and preservation of jobs. The raising of equity capital is not only related to an increase in capital, shares and stocks, but also to the founding of companies. Thus, when a company is newly founded and wants to finance its activity and investments, for example by shares, it could be led to pay the tax. This is the reason why the stamp duty can be seen as a real barrier for the creation of start-ups.
Moreover, according to Swiss Banking, it is especially for SMEs and start-ups that the rejection of the amendment could be disadvantageous because they will not benefit from a financial relief yet important to their development.
Author: Arij Kamel, marketing trainee at PrestaFlex, Fribourg
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["post_title"]=>
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What is a stamp duty?
Stamp duty is a tax that belongs to the indirect taxes. Any company that raises more than one million francs of equity capital is obliged to pay this tax, which corresponds to 1% of the raised amount.
Thanks to this tax, the Confederation collects about CHF 250’000’000 in stamp duties per year.
What was the vote about?
The Federal Government and the Parliament had the objective to remove the stamp duty. However, a referendum was launched to oppose the project with the risk of a direct taxes increase as an argument. The opponents of the project feared that this reform would increase the taxes for Swiss citizens.
A second argument is that it would only benefit large companies and would not concern SMEs directly. Finally, the opponents of the project do not see the need for such a reform since Switzerland is already at the top of the international competitiveness rankings.
The consequences of the vote for the Swiss economy and SMEs according to the supporters of the project
On February 13, 2022, the Swiss voters rejected the amendment of the federal law on stamp duties. Do you know what the economic impact of the rejection of the law change is?
The rejection of the amendment means that companies must continue to pay stamp duty.
More concretely, according to the supporters of the project, the abolition of the stamp duty would have reduced the costs of investments and thus would have been advantageous for the growth of the Swiss economy, especially for the creation and preservation of jobs. The raising of equity capital is not only related to an increase in capital, shares and stocks, but also to the founding of companies. Thus, when a company is newly founded and wants to finance its activity and investments, for example by shares, it could be led to pay the tax. This is the reason why the stamp duty can be seen as a real barrier for the creation of start-ups.
Moreover, according to Swiss Banking, it is especially for SMEs and start-ups that the rejection of the amendment could be disadvantageous because they will not benefit from a financial relief yet important to their development.
Author: Arij Kamel, marketing trainee at PrestaFlex, Fribourg
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Crowdfunding, an ideal alternative form of financing, especially for SMEs 