Zug Estates benefits from tax law revision
Zug Estates anticipates a positive special effect for the 2019 financial year. The company can release deferred taxes amounting to around CHF 19 million.
The referendum deadline against the amendment to the cantonal tax law to implement the federal tax bill has expired unused, meaning that the sixth revision of the tax law of the Canton of Zug will come into force on January 1, 2020, Zug Estates announced. This will lead to a reduction in the effective tax rate from 14.5% to 12.0%.
Due to this adjustment and based on the level of deferred taxes as at June 30, 2019, the company anticipates a one-off positive special effect from the reversal of deferred taxes in the amount of around 19 million for the 2019 financial year.
The Group plans to publish its annual report for 2019 on March 6, 2020. (ah)
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