Barely launched, micro-tax initiative divides

We’ve been talking about it for seven years. The initiative on the micro-tax on electronic transactions is finally launched. The text having been deposited at the end of February in the Federal Chancellery, the collection of signatures can begin, announced the committee Wednesday in Geneva.

Entitled “Micro-tax on cashless payment transactions”, it is intended to be painless: the maximum rate is 5 per thousand on each debit and credit. In other words, every time an individual, a company, a bank or other makes a purchase or a transfer of funds, this tax is levied. This ranges from adding to the restaurant, transferring money, and paying rent. The total amount collected must be able to replace value added tax, direct federal tax and stamp duty.

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