FINcontrol Suisse is the fourth supervisory body authorised by FINMA On September 29, 2020, the Financial Market Supervisory Authority (FINMA) granted the authorization to FINcontrol Suisse SA to operate as a supervisory organisation in the regulatory framework of FinIA and FinSA. The company is based in Zug and is the fourth authorised body, following the...Read More
The Swiss Parliament revises law on stock corporations On June 19, 2020, the Swiss Parliament approved the revision of the Swiss law on stock corporations (Company Law), which aimed at introducing simplifications (such as new provisions for the use of technology in support of general meetings) while allowing for greater flexibility and protection of specific...Read More
Switzerland declares Privacy Shield with USA non-compliant In light of the recent case law of the European Court of Justice (ECJ) on the protection of personal data in the context of the Privacy Shield between the US and the EU, Switzerland has been reassessing the conformity of the Privacy Shield to the Federal Act on...Read More
Taxes payable by cryptocurrency make Switzerland a leader in the implementation of crypto assets Thanks to its collaboration with Bitcoin Swiss, Canton Zug announced that it will accept tax payments by Bitcoin and Ether (for both companies and private individuals) up to an amount of CHF 100.000, starting from February 2021, becoming the first Swiss...Read More
Blockchain and distributed ledger technology: no repercussions for tax law Berna, 19.06.2020 – Nella sua seduta del 19 giugno 2020 il Consiglio federale ha preso atto del rapporto relativo a un’eventuale necessità di adeguamento della legislazione fiscale nel settore della blockchain. Il rapporto conclude che non occorre apportare particolari modifiche alla legislazione fiscale. L’ordinamento giuridico...Read More
Global Forum: Switzerland scores well Bern, 06.04.2020 – The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) has also rated Switzerland as largely compliant in the second round of peer reviews on the exchange of information upon request. The report was published on 6 April 2020. It noted significant improvements,...Read More
COVID-19: Information for companies and individuals Information by Swiss federal government Health and safety Overview: New coronavirus Current situation – Switzerland and international Federal government measures Coronavirus Infoline (24/7): +41 58 463 00 00 (Please note: This Infoline does not provide medical advice. Due to the high volume of calls you may experience delays...Read More
Taxation of digital economy: Swiss response to recent OECD statement Introduction Digitalisation is changing the way businesses operate and new business models have become a growing challenge for existing international tax systems. Under the Base Erosion and Profit Shifting (BEPS) project, the Organisation for Economic Cooperation and Development (OECD)...Read More
FINMA implementing small banks regime The Swiss Financial Market Supervisory Authority FINMA is implementing the small banks regime at circular level as of 1 January 2020: small, particularly liquid and well capitalised banks are to be exempted from certain regulatory requirements. FINMA is adjusting eight FINMA circulars for this purpose. Following a pilot phase lasting...Read More
TRAF implementation: ordinances enter into force on 1 January 2020 Bern, 13.11.2019 – During its meeting on 13 November 2019, the Federal Council approved three ordinances to the Federal Act on Tax Reform and AHV Financing (TRAF). These amendments concerning the tax component will enter into force on 1 January 2020. The Ordinance on the Reduced Taxation of...Read More
