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Though a step in the right direction, the draft law currently circulated for consultation by the Federal Department of Finance, which aims to relax rules regarding the refund of the Swiss withholding tax, does not go far enough. The Federal Council should reformulate its draft to better reflect the role of the withholding tax as a guarantee – one that is no longer needed once income taxes have been paid. In doing so, the government would more closely follow the intent of the parliamentary initiatives underlying this law, which requested that the right to claim a refund be retained "provided earnings are taxed." |
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