The Federal Department of Finance (FDF) is pressing ahead with work on a new edition of the Corporate Tax Reform III (USR III) entitled Tax Submission 17 (SV17).

According to a press release issued by the Federal Council on 2 March 2017, the newly composed steering committee (consisting of representatives of the cantons and the administration) was constituted at a kick-off meeting on 2 March 2017 and decided to closely involve the cities and municipalities in the work on a new edition of USR III from the outset.

At its meeting, the steering committee also defined the roadmap for Tax Template 17 (SV17). The first important milestone will be the hearings with the political parties, cities and municipalities as well as the regional churches and associations, which will take place in March. On the basis of these hearings, the further procedure and the roadmap will be specified. In June, the key points of the new draft are to be submitted to the Federal Council for decision.

Background: The federal law on tax measures to strengthen the competitiveness of Switzerland as a business location (Corporate Tax Reform Act III) was rejected in the referendum of 12 February 2017 with 59.1% against (see our contribution of 12 February 2017). In accordance with a press release dated 22 February 2017, the Federal Council then instructed the Federal Department of Finance (FDF) to submit key content criteria for a new bill and proposals for further action in the course of the second quarter of 2017 (see our article of 22 February 2017).