Taxes in Switzerland are levied at three levels: federal, cantonal and municipal. Due to the fact that the Swiss tax system has grown historically and reflects the federal state culture, each of the 26 cantons has its own tax law. Federal tax is calculated on annual income and is levied at a

In Switzerland, sole proprietorships, partnerships and legal entities (stock corporations) have bookkeeping and accounting requirements. The scope of the documentation and auditing obligations depend on the type of company, its turnover or size.   Determination of the Financial Year For accounting purposes, the financial year must be defined. It is generally 12 months

Even the Swiss have trouble fully understanding their income tax system. The array of taxes, including tax at source, on-account payments, a safeguard tax – plus differences between almost every canton, town and village – can be more than a little confusing. First, let’s consider the different levels of income and