Stable Coins

During its meeting held on 15 January 2020, the Swiss Federal Council took note of the recent developments regarding so-called stable coins. Stable Coins are blockchain-based tokens that are backed with assets in order to minimize fluctuations in value.

Swiss Corporate Tax Reform: Federal Council adopts three new ordinances

On 13 November 2019, the Swiss Federal Council approved three ordinances in connection with the Federal Act on Tax Reform and AHV Financing (TRAF) that will enter into force on 1 January 2020. The three ordinances provide specifications regarding the credit of foreign withholding taxes, the application of the patent box regime, and the notional interest deduction on surplus equity.

Swiss tax consequences in connection with the sale of shares: Limitations of the principle of tax-free capital gains for individuals

The tax appeal court of the Canton of Zurich dealt in a recent decision with the taxation of capital gains in connection with the sale of shares by individuals and its possible treatment from a Swiss income tax perspective. In general, if individuals resident in Switzerland realize a gain from the sale of tangible assets it should not be subject to Swiss income taxes. However, a few important exceptions should be considered.

Taxation of Cryptocurrencies and other Tokens: Working Paper published by the Swiss Federal Tax Administration

On 27 August 2017, the SFTA has issued a working paper regarding the treatment of cryptocurrencies and other coins or tokens based on the blockchain technology from a Swiss income tax, withholding tax and stamp duty perspective. The working paper also provides guidelines regarding the net wealth taxes imposed on a cantonal and communal level.