As part of the revision of the Stock Corporation Law, the provisions on reserves have been restructured and brought into line with accounting law (Art. 671 - 673 Code of Obligations (CO)) and the order in which they are to be set off against losses has been determined (Art. 674 CO).
Staking Rewards: The Swiss Federal Administrative Court confirms treatment as non-remuneration for VAT purposes
The Federal Administrative Court has published an interesting ruling in the area of VAT in connection with the validation of transactions and new blocks in two decentralised blockchain-based networks (Polkadot and Kusama).
Taxes and Social Security Contributions of Foreign Board Members of Swiss Companies
Board members of Swiss companies have to deal with different issues regarding taxes and social security contributions if they have their domicile outside of Switzerland. Regarding taxation, the corresponding double tax treaties will be applicable. If the board member is a citizen of the EU, the applicable social security system will be determined in accordance with the Agreement on the Free Movement of Persons between the EU and Switzerland.
Taxation of executive employees pursuant to the double tax treaty between Switzerland and Germany
Switzerland and Germany have amended in a new consultative agreement of April 6, 2023, the rules for the taxation of employees in executive positions and with power to represent the company.
Tax values 2022 of cryptocurrencies published by the Swiss Federal Tax Administration
Owners of cryptocurrencies have to declare the number and tax value per December 31, 2022, in their private tax declaration 2022. The value published by the Swiss Federal Tax Administration SFTA in the list of exchange rates is decisive.
Corporate tax rates and tax rates for individuals for 2023 in the Cantons Zug, Lucerne, Zurich and Schwyz
In Switzerland, taxes are levied at federal, cantonal and municipal level. This is, in particular, the case with income and capital taxes for legal entities and income and wealth taxes for individuals. The tax burden between the cantons and also between municipalities within the same canton may vary considerably.
Prohibition of Gifts as of 1.1.2023 – A Testator Who Disposes of His/Her Estate by Inheritance Contract May No Longer (Unilaterally) Make Any Gifts.
If spouses conclude an inheritance contract but would still like to be able to make gifts (after the death of the first spouse), this must now be explicitly mentioned in the inheritance contract. Why a inheritance contract? In practice, an inheritance contract is usually created when a testator wishes to benefit his/her husband or wife (“spouse”) as comprehensively as possible....
Tax exemption of charitable institutions
According to federal and cantonal tax laws, charitable institutions can apply for an exemption from profit and capital taxes. For such tax exemption certain conditions must be met.
Cryptocurrencies: Swiss Federal Tax Administration publishes tax values for 2021
The Swiss Federal Tax Administration (SFTA) has published the list of exchange rates of foreign currencies and cryptocurrencies as per December 31, 2021.
Non-fungible token (NFT) – Swiss legal and regulatory considerations
Non-fungible tokens (NFTs) are becoming increasingly popular and widespread. More and more startups are emerging in Switzerland's Crypto Valley to develop and trade NFTs or provide advice around NFTs.
EU Growth Prospectus approved for Artificial Intelligence (AI) Start-up based in Switzerland
The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has approved the EU Growth Prospectus we filed in collaboration with our colleagues in Luxembourg for the public sale of securities by a Swiss Start-up developing various artificial intelligence based software tools.
Cryptocurrencies: Tax values 2020 for Swiss net wealth tax purposes
The Swiss Federal Tax Administration (SFTA) has published the list of exchange rates of foreign currencies and cryptocurrencies as per December 31, 2020. The exchange rates are used to determine the tax values of foreign currencies and cryptocurrencies in CHF which individuals have to declare in their private tax declarations for net wealth tax purposes.