The Federal Department of Finance (FDF) has decided to continue not to pay any refund interest for the calendar year 2019 on amounts of direct federal tax paid early. The default / refund interest rate also remains unchanged.
According to a press release issued by the FTA on 12 October 2018, interest rates remain at a historically low level. The FDF has therefore decided to leave the remuneration interest rate at 0%. The default / refund interest rate also remains unchanged at 3%.
The interest rates are specified in the appendix to the FDF Ordinance on the Maturity and Interest Rates of Direct Federal Taxes. If the interest rates recover, the remuneration interest rate is to be raised again.
The press release of 12 October 2018 is available here.
