The much-maligned tax which home owners have to pay is finally being abolished.
The tax, unique in the world, is paid for by property owners on a theoretical rental income – even if they live in their own home.
There have been numerous attempts to get rid of it. But following a vote in the Upper House yesterday – it will go.
Senators voted 20 to 17 to end it.
But it’s likely there will have to be other changes to the tax code before it does finally end. It has the potential to cost the state as much as CHF 1.6bn.
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