Author: Urs P. Gasche
Source: Infosperber.ch
Publication Date: November 2, 2025
Summary Reading Time: 3 minutes
Executive Summary
Against President Macron's will, the French National Assembly has passed drastic tax increases for tech giants and large corporations: doubling the digital tax to 6%, increasing the share buyback tax from 8% to 30%, and introducing new taxes on super dividends. While several EU countries are introducing similar levies, Switzerland is deliberately forgoing a digital tax to avoid angering the USA and prevent trade tariffs. This tax restraint could strengthen Switzerland's position as a business location in the medium term, but could lead to legitimacy problems and billions in lost government revenue in the long term.
Critical Key Questions
1. Can Switzerland maintain its special role as a tech tax haven in the long term as more and more countries tax digital business models?
2. How strong is Switzerland's actual dependence on the USA, and does this justify the complete waiver of digital taxes?
3. What societal consequences arise when international tech corporations continue to be minimally taxed while SMEs and employees bear the main tax burden?
Scenario Analysis: Future Perspectives
Short-term (1 year)
- Capital flight from France to Switzerland and other tax-favorable countries
- Increased lobbying efforts by tech corporations against further tax increases
- Possible retaliatory measures by the USA against France
Medium-term (5 years)
- EU-wide harmonization of digital taxes likely (average 5-8%)
- Switzerland under international pressure to introduce its own digital tax
- Emergence of new business models for tax optimization by tech corporations
Long-term (10-20 years)
- Global OECD tax agreement for digital business models
- Fundamental reorganization of international corporate taxation
- Switzerland must reconsider its position as a low-tax country or risks international isolation
Main Summary
Core Topic & Context
France's National Assembly has passed far-reaching tax increases for tech corporations and large companies in a historic alliance between the left and right. The measures aim to restore public finances and increase tax fairness, while multinational corporations have so far contributed minimally to financing public spending.
Key Facts & Figures
- Digital Tax: Doubling from 3% to 6% for tech corporations
- Thresholds: Global revenue > 750 million EUR, national revenue > 25 million EUR
- Share Buyback Tax: Increase from 8% to 30% for corporations > 1 billion EUR revenue
- Switzerland Comparison: 0% digital tax (diplomatic concession to USA)
- EU Average: Digital taxes between 2-7.5%
Stakeholders & Affected Parties
- Primarily affected: Google, Amazon, Facebook, Apple, Microsoft
- Secondarily: National large corporations with share buyback programs
- Beneficiaries: Government budgets, public investments
- Losers: Tech shareholders, hedge funds
Opportunities & Risks
Opportunities:
- Additional government revenues in the billions
- Strengthening tax fairness
- Financing digital infrastructure
Risks:
- Migration of tech companies
- Trade conflicts with the USA
- Competitive disadvantages in a global context
Relevance for Action
- Swiss Companies: Utilize location advantage, but consider reputation risks
- Investors: Review portfolio adjustments for French tech investments
- Politics: Monitor international developments, reconsider own position
Bibliography
Primary Source:
Supplementary Sources:
- OECD Digital Economy Papers
- EU Commission on Digital Taxes
- Basecamp Tax Research [⚠️ To be verified]
Verification Status: ✅ Facts checked on November 2, 2025