Canton adopts flat-rate tax 08/01/2008 00:00
The Swiss canton of Obwalden is the first canton to adopt a flat-rate tax system for individual income tax.
8 January 2008
OBWALDEN - The Swiss canton of Obwalden is the first canton to adopt a flat-rate tax system for individual income tax.
The decision to cut income tax to 1.8 percent follows a referendum which secured support for the change from over 90 percent of the canton's electorate.
The tax will be levied on all personal income above CHF10,000 (EUR 6,052) per year. Residents also voted in favour of a cut in the corporation tax rate from 6.6 percent to 6 percent.
Copyright: FedEE Services Ltd 2008
http://www.fedee.com
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