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.

EU Growth Prospectus filed

In collaboration with our colleagues in the EU we have filed an EU Growth Prospectus for the public sale of participation certificates by a Swiss Startup in the Crypto Valley.

Fiscal measures of the Canton of Zug in connection with the Coronavirus

Due to the Coronavirus situation the tax authorities of the Canton of Zug have taken various measures to support the taxpayers. For individuals, the deadlines to submit the tax return or the application for a tax rate correction (for taxpayers taxed at source) have been postponed to June 30, 2020. The deadlines for individuals and companies to pay taxes have...

Federal Council postpones start of court vacations

Pursuant to the decree, the Federal Council has announced the start of the Easter judicial vacations in civil and administrative proceedings as early as 21 March 2020 (instead of 5 April 2020). The prolongation applies in all proceedings under federal or cantonal law. Only in proceedings in which no court vacations already apply, in particular in urgent matters (summary proceedings),...

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.