Genevans will see their income taxes drop in 2025. Accepted for voting in November, the new scales depend on the categories of taxable income. The middle class will be the big winner (archives).
Photo: KEYSTONE/MARTIAL TREZZINI
Genevans will see their income taxes drop in 2025. Accepted for voting in November, the new scales depend on the categories of taxable income. The middle class, which does not receive any state aid, can expect a decrease of up to 11.4%.
For the wealthiest sections of the population, the reduction will be around 5.3%, while it will be 8.8% for taxpayers with the lowest taxable income. More than half of taxpayers who pay income tax will benefit from a tax cut of at least 10%.
Included in the legislative program of the Council of State, this reform aims to restore purchasing power to the population, in particular to the middle class. This is the largest tax cut for individuals in Geneva since 1999. It will bring Geneva’s taxation closer to that of other cantons, except for high incomes.
Twelve installments
This tax reduction, which the left opposed, will cause the canton to lose 326 million in tax revenue. Result: the 2025 budget forecasts a deficit of 255.7 million. However, in recent years, despite expected deficits, the accounts have shown significant surpluses: 727 million in 2022 and a record of 1.4 billion in 2023.
Another new feature in 2025: Genevans will pay their tax installments in twelve installments, compared to ten until now. Objective: better distribute the load over the whole year. An online form on the State website allows each taxpayer to calculate their future taxes and modify the amount of their advance payments upwards or downwards.
/ATS
Swiss
