Micro-Tax on Monetary Transactions /
Automatic Micro-Tax on Debiting and Crediting (AMTDC)

The Automatic Micro-Tax (AMTDC) is a tax code based on a different approach, which no longer aims at citizens and corporations and their respective income and profit. Subject to a minimal taxation is all debit and credit of payment transactions. Being levied automatedly, the Micro-Tax is fair and easy to handle. The financial industry now conjointly makes an automatic tax contribution, thus relieving stress and strain on individual taxpayers and corporations.  

The Micro-Tax brings transparency into financial flows. Indeed, we are entitled to know size and structure of the financial system, since our tax money is used as collateral in times of crisis. Thanks to the abundance of its revenue, the Micro-Tax can replace all existing taxes and contributions. Seen the federalistic constitution of Switzerland, the Micro-Tax should be implemented pragmatically. First, taxes and contributions on federal level must be replaced, such as the Value Added Tax, the Direct Federal Tax and Stamp Duties.        

The Automatic Micro-Tax comes closest to a just and equitable tax code easy to understand and friendly to all tax payers.

Working Paper
January 2013 – October 8, 2019

Felix Bolliger
lic.oec. HSG


In 2012 monetary transactions by Swiss Interbank Clearing alone amount to net CHF 95’000 billion (Milliarden). This sum includes sight deposit transfers (Giroüberträge) on accounts held by banks with Swiss National Bank (*). In addition, the domestic foreign exchange market absorbs in 2012 / 2013 more than CHF 50’000 billion (see BIS statistics) and a considerable amount of transactions is settled directly in-house by PostFinance, the banks, and correspondent banks.  For these segments, no official statistics are available; a conservative estimate amounts to CHF 35’000 billion. Though invisible, there is a massive financialization of the economy in process which offers a new and vast tax base.    

The Automatic Micro-Tax on Debiting and Crediting (AMTDC) is based on a different perspective than the existing tax code. By charging e.g. 1 per thousand (0.1%) Micro-Tax on all debits and credits of CHF 100’000 billion payment transactions, existing taxes and social contributions paid by individuals and corporations - and adding up to 35 per cent of GDP - become obsolete. The Automatic Micro-Tax is easy to understand, easy to implement and its revenues are abundant.

*SNB changed C1 statistics in March 2013. E.g. for 2012 the revised statistics show CHF 30’000 billion payment transactions instead of CHF 95’000 billion. The altered / new statistics no longer include sight deposit transfers between SNB and Banks - so called “Giroüberträge”.