On April 29th 2018, the Ticino population went to the ballots to express their opinion on the amended terms of the tax reform approved by the Gran Consiglio on December 12th 2017.
The referendum was won by a cat’s whisker with 50.1% voting “si” in favor of the measures. The tax reform aims to make Ticino an even more fiscally appealing location for pioneering businesses. To this end, the approved measures include three incentives that create a fertile fiscal environment for the growth of start-ups.
- Individual investors putting their money in Ticino’s most innovative businesses will see the amount invested deducted from their income tax for the tax period in question, and taxed at an extraordinary rate of 1% henceforth.
- Any un-repayable contributions (such as prize money) awarded to start-ups will be exempted from donation tax.