Swiss Federal Council Approves Draft Bill for Federal Tonnage Tax

The Swiss Federal Council has issued a release announcing its adoption of the dispatch approving the draft bill for the Federal Tonnage Tax Act. The draft bill provides for the introduction of a tonnage tax regime that allows profits from the operation of seagoing vessels to be taxed at a flat rate based on the net tonnage (loading capacity) of the vessels. The bill is largely in line with the draft consulted on in 2021, including the following flat rates per day of operation of a seagoing v…