The electorate approved TRAF in a referendum on 19 May 2019. One day after the Federal Council officially takes note of the result of the vote (validation decree), certain transitional provisions automatically enter into force. With this ordinance on the final entry into force of TRAF, the Federal Council will bring the remaining provisions into force at the beginning of 2020.

TRAF will replace existing tax regimes that are no longer in line with international standards. Internationally compatible tax measures will be introduced in order for Switzerland to remain an attractive business location. The cantons will be given additional fiscal policy leeway. Fiscal equalization will be adjusted in line with the new reality in terms of tax policy, and the AHV will receive additional financing.

If a canton fails to implement the mandatory TRAF provisions by 1 January 2020, federal law will apply directly.

TRAF to enter into force on 1 January 2020