Geneva: tax news from January 1, 2025

From January 1, 2025, the following new features come into force for Geneva taxpayers:

• Possibility (and not obligation) to pay tax instalments in 12 instalments instead of the historical 10 instalments for both individuals and legal entities
• Lower income tax and the possibility of requesting a revision of the 2025 tax instalments
• Reduction in withholding tax for cross-border commuters or anyone subject to withholding tax in the canton of Geneva
• Reduction in wealth tax
• Deferral until January 1, 2026 of the application of the addendum to the France-Switzerland double taxation agreement
• Possibility of opting for an annual VAT statement before February 28, 2025
• Reduction in maternity insurance contribution from 0.076% to 0.064%.

If you need help preparing your tax return or estimating your new tax liability, our team of tax specialists will be happy to assist and advise you.