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Geneva Parliament votes to abolish the Geneva Municipal Business Tax

|Tax Alerts, Information Reporting, Legis ...|Switzerland
Switzerland

  • A recent vote would abolish the Geneva Municipal Business Tax, absent a public referendum, effective as of 2024.
  • This change would likely be beneficial for multinational entities that must comply with BEPS 2.0.
  • Affected entities should prepare for the change, as a public referendum is unlikely.

Executive summary

On 11 May 2023, the Geneva Parliament voted to abolish the Geneva Municipal Business Tax (MBT; in French: taxe professionnelle communale) with a broad political consensus.

If no public vote …

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