FTA publishes circular "Interest rates in the area of direct federal tax for the calendar year 2020 / maximum pillar 3a deductions in the tax year 2020".
Tabea Lorenz
On 22 October 2019, the Federal Tax Administration (FTA) published the circular "Interest rates in the area of direct federal tax for the calendar year 2020 / maximum pillar 3a deductions in the tax year 2020".
According to the circular "Interest rates in the area of direct federal tax for the calendar year 2020 / maximum pillar 3a deductions in the tax year 2020", the interest rates in the area of direct federal tax for the calendar year 2020 remain unchanged compared to the previous year. The default and refund interest rate remains at 3% and the interest rate for advance payments at 0% (cf. the taxlawblog contribution of 12 October 2019).
The tax deduction in the context of tied pension provision (pillar 3a) also remains unchanged for the tax year 2020. Therefore, the following maximum deductions apply, as in the 2019 tax year:
- Maximum Pillar 3a deduction for taxpayers with 2nd pillar: CHF 6,826
- Maximum Pillar 3a deduction for taxpayers without 2nd pillar: CHF 34,128
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