The microtax initiative demands the introduction of a tax which is raised automatically on any payment transaction. In exchange, the value added tax, the direct federal tax and stamp duty are replaced. With one new tax, three previous taxes may be removed.
The microtax is easy to implement. With every electronic transaction, 0.1-0.5% are raised automatically. This brings transparency into the opaque financial system because every transaction is recorded in the future. The tax rate may be adapted continuously according to current needs by the parliament.
The microtax benefits average taxpayers and small and medium sized companies since they pay considerably less taxes. The principle applies that who owns a lot of money, pays more taxes. This taxation relieves the lower and middle class. Moreover, consumption becomes cheaper because the value added tax does not arise anymore. The finance industry is currently not taxed sufficiently. With the microtax, it contributes to the tax substrate in an appropriate extent.
The current tax system is complicated and expensive. We need a new, more efficient system, which is comprehensible for everyone. In addition, the microtax leads to a fairer taxation. The finance industry contributes little to taxes, although it obtains high profits. The financial crisis in 2008 has shown that the people are liable in a case of emergency: privatisation of profits and socialisation of losses is not acceptable.
A notebook worth CHF 1’000.- currently costs CHF 1’077.- including the value added tax. With a microtax rate of 0.1%, the payment of the same notebook is charged with CHF 1’001.- for the buyer and credited with CHF 999.- for the vendor. The tax revenue of CHF 2.- is automatically collected by the Swiss Federal Tax Administration. The value added tax lapses and with it its administrative effort.