Swiss Council of States Approves Introduction of 4% Tax on Video Streaming Service Providers

The Swiss Council of States (upper house of parliament) approved amendments to the Film Act on 7 June 2021 that would provide for the introduction of a 4% tax on video streaming service providers like Netflix and Hulu. The tax would be implemented in such a way that streaming providers would be required to either invest a minimum of 4% of their turnover in Switzerland into the Swiss film industry or be subject to a 4% replacement tax. The measures are subject to further debate in the National Council (lower house), which previously proposed an investment/replacement tax rate of just 1%.

Source Orbitax