• On 2 November 2016, the Swiss Federal Council announced that it planned to reduce barriers to market entry for FinTech companies.
• The program of the Swiss Federal Council comprised three pillars consisting of (i) the...more
• On 17 January 2019, sufficient signatures were filed requesting a referendum on the Federal Act on Tax Reform and AHV Financing (TRAF).
• The public vote will be held on 19 May 2019.
• If TRAF is accepted by the...more
• Following the 2008 crisis, Switzerland launched a legislative project to create uniform competitive conditions for financial intermediaries and improve client protection.
• Swiss Parliament adopted the FinIA on 15 June...more
2/13/2019
/ Anti-Money Laundering ,
Asset Management ,
Financial Institutions ,
Financial Instruments ,
Financial Markets ,
Financial Services Act ,
Financial Services Industry ,
FINMA ,
Foreign Investment ,
Intermediaries ,
Switzerland ,
Trustees
• Following the 2008 crisis, Switzerland launched a legislative project to create uniform competitive conditions for financial intermediaries and improve client protection.
• Swiss Parliament adopted the FinSA on 15 June...more
2/13/2019
/ Financial Institutions ,
Financial Instruments ,
Financial Markets ,
Financial Services Act ,
Financial Services Industry ,
FINMA ,
FINSA ,
Foreign Investment ,
Intermediaries ,
Key Information Document (KIDs) ,
MiFID II ,
Prospectus Regulation (PR3) ,
Switzerland
• Since 2015, acquirers of Swiss non-listed bearer shares must report their name and address to the company within one month of the acquisition. The ultimate beneficial owner of an interest of 25 per cent or more has to be...more
11/8/2018
/ Acquisitions ,
Anti-Money Laundering ,
Bearer Shares ,
Beneficial Owner ,
Corporate Criminal Fines ,
Disclosure Requirements ,
FATF ,
Liquidation ,
Reporting Requirements ,
Shareholders ,
Swiss Banks ,
Switzerland
• Under Swiss law, Swiss employers must levy an employment withholding tax on the salary received by foreign nationals who do not hold a permanent residence permit.
• Only taxpayers whose salary exceeds a certain amount...more
10/30/2018
/ Bilateral Agreements ,
Cross-Border ,
Employment Tax ,
EU ,
Foreign Nationals ,
Income Taxes ,
New Rules ,
Non-Permanent Residents ,
Switzerland ,
Tax Deductions ,
Tax Liability ,
Tax Reform ,
Tax Returns ,
Wage and Hour ,
Withholding Tax
• Switzerland’s privileged taxation of companies is no longer in line with international standards.
• In 2017, the first attempt to abolish the internationally criticized regime was clearly rejected by Swiss voters.
• On 28...more
10/11/2018
/ Corporate Taxes ,
Domicile ,
Financial Institutions ,
Holding Companies ,
Income Taxes ,
International Tax Issues ,
New Legislation ,
Switzerland ,
Tax Legislation ,
Tax Rates ,
Tax Reform
• The Swiss Federal Tax Administration published a new circular letter on lump-sum taxation.
• The circular sets out a minimum taxable income of CHF 400,000 even if the living expenses are lower.
• The stricter rules...more