In a public referendum held on 25 September 2022, approximately 52% of Swiss voters rejected withholding tax reforms for interest income derived from bonds. The reforms would have amended the federal law on withholding tax to exempt interest income on bonds issued from 1 January 2023. The reforms would have also abolished the trading stamp duty on Swiss bonds.
Swiss voters did, however, approve an increase in VAT rates to fund the public pension system, with approximately 55% of voters appro…