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The Swiss tax system is very much in line with the country's reputation as a centre for international trade and finance, a reputation that has been earned over years of financial and political stability. Many tax privileges have been introduced in order to entice foreign investment in Switzerland. Switzerland also has an extensive network of treaties for the avoidance of double taxation.
Switzerland has a federal tax law and each of the twenty-six cantons has its own separate cantonal and communal tax system. Consequently, taxation varies depending on the canton and community in which a company or individual is domiciled, works or has otherwise invested. Switzerland has been undergoing a total reform of its domestic corporate tax system with a view to harmonising its federal, cantonal and communal tax laws as well as to render Switzerland more attractive to foreign investors.
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