The Federal Department of Finance (FDF) has decided not to pay interest for the calendar year 2020 on early payments of direct federal tax. The default and refund interest rates also remain unchanged.
According to the FDF press release of 10 October 2019, interest rates remain at a historically low level. The FDF has therefore decided to leave the remuneration interest rate at 0%. The interest rate on arrears and the refund interest rate also remain 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.
In March 2019, Parliament referred the motion "Harmonisation of interest rates for federal tax exemptions" (16.3055 Jauslin) to the Federal Council. It aims in a similar direction to the parliamentary initiative pending in the Federal Assembly "Federal default interest rate. Adjustment to market interest rates" (16,470 Regazzi). The FDF will determine the further procedure for implementing the motion by the end of 2019.
The press release of 10 October 2019 is available here.
