Switzerland Announces COVID-19 Plan To Scrap Interest On Tax Arrears

The Swiss Government has announced that it will waive interest on late payments of tax, to allow companies to delay their tax payments.

A zero percent interest rate will apply to outstanding tax dues, covering value-added tax, customs duties, special consumption taxes and certain other levies, and all federal direct taxes. The waiver applies for taxes due between March 21, 2020, and December 31, 2020.