Taxes Tax revenues from natural persons fall in Schaffhausen

Tax revenue from natural persons in Schaffhausen fell by just under 13% to CHF 184.3 million in 2022. On the other hand, revenue from legal entities increased.

Revenue from legal entities was 8.5 percent higher than in the previous year, as announced by the Schaffhausen Department of Finance on Thursday. The canton took in almost 94 million. Income tax revenue rose to CHF 86.7 million, which is almost ten percent higher than in 2021.

The Finance Department explains the fall in income tax revenue from natural persons with various measures. For example, the tax rate for natural persons was reduced by two tax rate percent compared to the "normal" tax rate.

Furthermore, the insurance deduction for married taxpayers was increased from CHF 3,500 to CHF 7,500, for single taxpayers from CHF 1,700 to CHF 3,750 and for children and supported persons from CHF 700 to CHF 1,000. Due to the coronavirus crisis, the canton also increased the tax relief deduction by 50 percent for the years 2022-2024.

Revenue from wealth tax was almost 25 percent lower in 2022, at 23.2 million francs. This decrease can also be explained by the reduction in the tax rate, according to the press release.

SDA