What's Going On In ...: Switzerland: Business Tax Reform Act II Approved in Referendum - Measures and Entry into Force

On 23 March 2007, the Federal Parliament passed the Federal Act on the Improvement of Tax Law for Entrepreneurial Activity and Investments (Business Tax Reform Act II). The draft act was subject to referendum. On 24 February 2008, the Swiss electorate approved the draft act, but voting was very close, with only 50.5% of the votes in favour. This note examines the new provisions contained in the draft act.