Investis benefits from tax reform
For Investis, the implementation of the tax reform in the canton of Geneva is having a positive effect. The real estate holding company expects a special effect of CHF 61 million.
The implementation of the tax reform (STAF) in the canton of Geneva, which was voted on May 19, will result in a reduced effective cantonal tax rate of 13.99%. Previously, it was 24.2%, Investis writes in a statement.
The French-speaking Swiss real estate company therefore expects tax income in the first half of the year and for the full 2019 financial year. Deferred taxes on consolidated net income and equity amounting to CHF 61 million will be reversed. Net asset value per share will increase to CHF 4.80, Investis added.
The new tax law for legal entities in the canton of Geneva will be valid from January 1, 2020. (ah)
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