Holcim (Schweiz) AG acquired a 20% stake in KLARK AG through a capital increase. Following the transaction, five shareholders each hold 20% of KLARK AG: the existing shareholders Logbau AG, Toggenburger AG, Novakies AG and Ulrich Imboden AG, as well as the new shareholder Holcim (Schweiz) AG. This investment supports the further development of KLARK climate concrete. For Holcim, it...
Reichlin Hess advised Holcim on its acquisition of an equity stake in Inkoh AG
Holcim (Schweiz) AG, together with Axpo Biomasse AG and Terre-Suisse AG, acquired an equity stake in Inkoh AG, a subsidiary of Zindel United Holding AG and a leading Swiss producer of high-quality biochar. Under the transaction, Zindel United Holding AG sold 60% of the shares in Inkoh AG to the three new investors, while remaining the largest single shareholder with...
The Future of Legal Fees
In the current issue (3/2026) of Anwaltsrevue (available in German and French at anwaltsrevue.recht.ch; English translation below), Dr. Paul Thalmann had the opportunity to publish an article on the future of legal billing as a member of the SAV Executive Board. Under the title “The Billable Hour is dead, long live the Billable Hour!”, he explores why the traditional hourly...
Stuck in Paradise? The Consequences of Being Unable to Work Due to a Delayed Return from Vacation
In labor law, the principle of “no work, no pay” applies. This means that the employee generally bears the risk of loss of wages, and the employer is not obligated to pay wages if the employee is prevented from performing work.
Leading ruling of the Federal Supreme Court on the taxation of compensation for termination without notice dated January 19, 2026 (9C_96/2024)
In a decision dated January 19, 2026 (9C_96/2024), which is scheduled for publication, the Federal Supreme Court ruled for the first time on the taxation of compensation for unlawful termination without notice. Back in 2022, the Federal Supreme Court classified compensation for wrongful termination as tax-exempt satisfaction (BGE 148 II 551).
Amendment of the double tax treaty between Switzerland and Germany for cross-border commuters and other cross-border activities
In addition to adjustments to the OECD Model Tax Convention detailed provisions regarding cross-border employments shall be implemented in the protocol of the double tax treaty.
Reichlin Hess strengthens its partnership
We are pleased to announce that Stefan Blunschi has joined Reichlin Hess as a partner. We warmly welcome Stefan to our partnership.
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...
Corporate Tax Rates and Tax Rates for Individuals for 2025 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.
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.
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.
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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