Helvetia and Baloise Merger

On 23 May 2025, shareholders of Helvetia and Baloise approved the merger that was announced by the two insurance groups to “Helvetia Baloise Holding Ltd”. This merger is a milestone in the Swiss insurance industry. With a combined business volume of CHF 20 billion across eight countries, Helvetia Baloise Holding Ltd will become the second largest insurance group in Switzerland...

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Swiss tax consequences of the acquisition and sale of treasury shares

The acquisition and sale of treasury shares by companies limited by shares raise several questions regarding taxation in Switzerland in connection with income, capital, withholding and value-added taxes as well as stamp duties. The Swiss Federal Supreme Court answered some of these questions in recent decisions. Some of the relevant tax issues regarding treasury shares are outlined below.

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Initiative for a new inheritance and gift tax by the Juso party

The party Juso (young socialists) managed to collect sufficient signatures for a popular initiative to implement a new inheritance and gift tax on the federal level. This means that the Swiss citizens can decide on a popular vote about the implementation of this initiative, probably in 2026 at the earliest. If the initiative will be accepted, estates from deceased persons and gifts exceeding CHF 50 million will be subject to a tax of 50%. At this time, it can be assumed that the initiative will not be accepted. Most of the political parties reject it. However, there is no 100% guarantee for this and affected individuals should consider measures for the avoidance or reduction of such new tax.

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New International Inheritance Law

On 1 January 2025, new inheritance regulations in Swiss Private International Law (PIL) will come into force. The revision efforts are primarily triggered by the European Succession Regulation (EuErbVO), which came into force in 2015. Among other things, the regulation aims at simplifying estate planning and the settlement of estates in inheritance cases involving foreign countries. Switzerland's international inheritance law (in Chapter 6 of the PIL) will be modernized as part of the revision and adapted to legal developments abroad. On the one hand, the autonomy of the parties will be strengthened and, on the other hand, the risk of conflicts of jurisdiction with foreign authorities, particularly in the EU, will be reduced. The partial harmonization of Swiss international inheritance law with the EU Succession Regulation is intended to prevent conflicting decisions in relation to the member states of the EU Succession Regulation. This is to be achieved in particular by improving the coordination of decision-making powers on both sides by aligning the rules of jurisdiction and recognition as far as possible or, where this is not possible, by ensuring that both sides apply the same law.

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Federal Transparency Register

In response to international pressure, a federal register of beneficial owners of companies is to be set up to combat white-collar crime. The following article provides a summary overview of the new provisions with a focus on the obligations of corporate bodies, shareholders and beneficial owners of Swiss companies.

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Taxation of individuals in the canton of Zug

Individuals with domicile in Switzerland are subject to taxation on a federal, cantonal and communal level. The tax burden can significantly vary between the cantons and also between municipalities within the same canton. Compared to other cantons, income tax and wealth tax is considerably low in the canton of Zug. The changes in the cantonal tax law which entered into force at the beginning of 2024 and planned changes will further reduce the tax burden in the canton of Zug.

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Taxation of Asset Tokens in Switzerland

There is a well-established practice in Switzerland regarding the taxation of cryptographic tokens in general and asset tokens in particular. The Swiss Federal Tax Authorities SFTA and cantonal tax authorities published this practice in several working papers, fact sheets, information sheets and otherwise. The basic principles of the taxation of asset tokens in Switzerland are summarised below.

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Relocation of the debtor to a neighbouring country: Cross-border enforcement of claims in the relationship between Switzerland and Germany

Invoices that are not being paid, or failure to comply with payment reminders, is extremely frustrating for creditors in both Switzerland and Germany. For this reason, both the Swiss and German legal systems offer creditors a simple and efficient way of enforcing their claims: in Switzerland through debt enforcement and in Germany through dunning procedures.

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