Swiss National Council extends TBTF bank withholding tax exemption to 2031.
Switzerland’s National Council approved an extension of the withholding tax (WHT) exemption on interest from financial instruments issued by systemically important banks, commonly referred to as “too-big-to-fail (TBTF)” banks, on 8 September 2025.
The exemption has been in effect since 2013. This ensures that banks can continue to obtain capital from within Switzerland on competitive terms, thereby contributing to financial stability.
Earlier, the Swiss Federal Council approved a temporary extension of the special rules on withholding tax for too-big-to-fail instruments to 31 December 2031.
