The reform creates an imbalance for individuals: interest earned on assets (which generates income) will remain taxable, while interest paid on personal debt will no longer be deductible from taxable income.
What does the new tax asymmetry introduced by this reform entail?
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About the Author: Attorney Cedric PANCHAUD
Cédric Panchaud is an attorney, holds a doctorate in law, is a licensed notary, and is a certified tax expert. He heads PANCHAUD Tax & Legal SA, an independent firm in Geneva specializing in taxation of individuals and corporations, real estate taxation, occupational pension plans, and corporate restructuring. He regularly serves as a speaker at continuing education seminars (ISIS, OREF/EXPERTsuisse).