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Swiss Voters Approve Introduction of 4% Tax on Video Streaming Service Providers — Orbitax Tax News & Alerts

In a public referendum held on 15 May 2022, a majority of Swiss voters approved legislation for a 4% tax on video streaming service providers such as Netflix and Hulu. As approved in parliament in 2021, the tax will be implemented by requiring streaming service providers to either invest a minimum of 4% of their turnover in Switzerland into Swiss audiovisual productions or be subject to a 4% replacement tax (levy) payable to the Federal Office of Culture. The legislation for the 4% tax also requires that at least 30% of the content provided by streaming service providers in Switzerland be produced in Europe.