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Initial Coin Offering: Tax ruling for the issuance of an asset token obtained
Reichlin Hess obtained a tax ruling regarding the income tax treatment of an ICO in connection with the issuance of an asset token. Among others, the token will provide the owners with a fixed participation right on the revenues generated by a crypto-related platform. In a nutshell, the tax ruling confirms that the revenue sharing payments will be considered as tax deductible expenses and the income from the ICO will be booked into a provision. To have such a beneficial tax treatment confirmed in advance is a significant advantage of undertaking an ICO in Switzerland.