Swiss Federal Council Adopts Dispatch on Draft Legislation and Counter Proposal for Individual Income Tax Reform

The Swiss Federal Council has issued a release announcing its adoption of a dispatch on individual taxation, including the "fair tax initiative" for individual taxation regardless of marital status and an indirect counter-proposal in the form of a Federal Law on Individual Taxation. This includes measures to transition from joint taxation of spouses to individual taxation to eliminate the so-called "marriage penalty" that often results in married couples paying more taxes, and to generate in…