Zurich SP holds referendum against lower corporate taxes
The SP of the canton of Zurich is definitely launching a referendum against the cantonal council's tax decision on Monday. The reduction in corporate taxes would threaten the canton and municipalities with tax losses amounting to CHF 350 million.
25.09.2024, 07:54
SDA
The SP delegates decided on Tuesday to launch a referendum against the second part of "Tax Proposal 17", as the party announced on Wednesday. The SP is supported by the other parties on the left side of the council, the Greens and the AL.
The left-wing parties had already announced on Monday that they would fight against the decision to reduce the profit tax rate from 7 to 6 percent. Once again, this would only benefit entrepreneurs and major shareholders, who have already received new tax privileges several times in recent years.
No higher taxation of major shareholders
According to the SP, the conservative majority in the Council - including the GLP - made the bill even worse on Monday: at the first reading, the conservatives removed the planned counter-financing. The government originally wanted to increase the dividend tax for major shareholders as compensation.
This made it clear that the 350 million in tax losses would inevitably have to be compensated by savings measures, according to the SP.
The Government Council will support the bill in the form approved by the Cantonal Council - i.e. without higher dividend taxation. Finance Director Ernst Stocker (SVP) is already aware that this starting position will be difficult. "I have a certain respect for this referendum," he said on Monday.
