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Switzerland Sets Penalty and Refund Interest Rates for 2016

|Approved Changes|Switzerland
Switzerland

On 24 September 2015, the Swiss Federal Tax Administration published the applicable interest rates for penalties and refunds.

  • Late payment interest is 3%;
  • Overpayment refund interest is 3%; and
  • Compensatory Interest for early advance payment is 0.25%

These rates apply for the 2016 calendar year.

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