The Swiss Federal Tax Administration has published Circular Letter 2-174-D-2019-e of 22 October 2019, which sets out the federal direct tax interest rates for the 2020 calendar year. The letter notes that the Federal Department of Finance has decided to maintain the rates applicable for 2019 and as such the rates for 2020 are as follows:

• Interest on tax arrears and refunds - 3%
• Interest on ad…