Referendum on tax relief for Geneva entrepreneurs' work tools

At the beginning of the year, the Grand Council approved a revision of the taxation of the working capital of entrepreneurs in the Canton of Geneva. This will make it possible to reduce the double taxation of company capital and shareholder wealth. Geneva is thus aligning itself with a practice that already exists in other cantons. You can find more information on this subject in our article here.

The entry into force of the new article 59a of the law on the taxation of individuals (LIPP), initially scheduled for 1^st  January 2025, is now subject to a vote by the people of Geneva. A referendum has been lodged because, according to its opponents, the text represents a "gift" to wealthy taxpayers. According to some estimates, the tax loss associated with this reform amounts to CHF 30 million per year. This amount will be divided between more than 4’200 taxpayers, mainly shareholders in SMEs. On the other hand, this project should make the Canton more attractive and encourage investment and employment. 

Our experts are on hand to provide you with personalised support in managing your tax affairs.