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.
Updates Legal & Tax
New Year – New vacation credit
In this article, our Swiss employment law specialists answer the most important questions on the subject of vacation.
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.
Employment law: Mandatory wage equality analysis starting from July 1, 2020
From July 1, 2020, companies with more than 100 employees must carry out wage equality analyses, for the first time until June 30, 2021
Liability under corporate law, interests of the group of companies also to be considered
In its ruling of 18 November 2019 (4A_268/2018), the federal supreme court essentially supported the decision of the commercial court of the Canton of Zurich of 16 March 2018 (ruling HG130073) [The Financial Responsibilities of the Board of Directors in the Group] in a ruling in the causa Swissair.
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.
Inheritance Law: Swiss Federal Council proposes changes to facilitate the succession of enterprises
The Swiss Federal Council is proposing changes to the current inheritance law in order to facilitate the continued existence of enterprises in an estate, in particular in case the deceased has not made a last will or concluded an inheritance agreement with his heirs. The aim is to protect enterprises from conflicts among the heirs.
Swiss VAT: Declaration requirements for foreign enterprises generating turnover in Switzerland
The Swiss Federal Tax Authority (SFTA) has issued the final version of the VAT-Information brochure no. 22 regarding foreign enterprises.
Report of the Swiss State Secretariat for Economic Affairs SECO regarding the implementation of the job notification duty
On 1 November 2019, the Swiss State Secretariat for Economic Affairs SECO has published its report regarding the status of the implementation of the new duty to notify open positions to the Swiss Regional Employment Centres (REC).
Taxation of Cryptocurrencies and other Tokens: Working Paper published by the Swiss Federal Tax Administration
On 27 August 2017, the SFTA has issued a working paper regarding the treatment of cryptocurrencies and other coins or tokens based on the blockchain technology from a Swiss income tax, withholding tax and stamp duty perspective. The working paper also provides guidelines regarding the net wealth taxes imposed on a cantonal and communal level.
News
New Attorney and Certified Specialist SBA Employment Law: Simon Fricker
Since January 1, 2020, Simon Fricker is supporting the team of Reichlin Hess. With this appointment Reichlin Hess continues to grow in the areas of employment law and litigation.
Successful closing of seed financing round for a startup in the blockchain industry
We are proud to have supported MachinaWare AG through a successful seed financing round of CHF 1 million. As a promising blockchain startup in the Crypto Valley, MachinaWare AG will now be able to accelerate development and growth for the official launch in 2020.
Appeal in tender procedure: Another great success for our litigation attorneys
A successful defense of our client against two appeals from different bidders in a tender procedure in the Canton of Berne.
New Attorney and Notary Public: Dominic Baumgartner
We are happy to welcome Dominic Baumgartner as a Attorney at Law and Notary Public in our team! His main practice areas are corporate and commercial law, litigation and national and international arbitration, advice on and drafting of contracts, the law on debt enforcement and bankruptcy and sports law.
New Partners!
We are happy to announce the new members to the partnership of our firm as per 1 January 2019.
Security Token Offering: FINMA non-action letter for a token marketplace obtained
We are pleased to have assisted in the regulatory clarification of a new security token offering in Switzerland. The token to be sold should grant the owners a participation in the future turnover of the company.
Crypto Exchange
With the support of our experts in crypto and AML regulations we have successfully registered a new crypto exchange with a self-regulating organization in Zug, Switzerland.
Initial Coin Offering: FINMA non-action letter for crypto art service firm obtained
With the support of our lawyers a Zug based company engaging in the digitalizing of art obtained a non-action letter from FINMA in connection with an Initial Coin Offering (ICO).
Certified Specialist SBA Employment Law
Having successfully completed a Certificate of Advanced Studies of the University of Zurich (UZH) in Employment Law as well as having passed the oral specialist exam, Philipp Bachmann was awarded the title of „Certified Specialist SBA Employment Law“ by the Swiss Bar Association in June 2018.
Trainings for Companies regarding Data Privacy (with focus on the European General Data Protection Regulation (GDPR))
Matthias Lerch and Andrea Hauser have already trained employees of companies from different sectors and industries regarding data privacy. We are happy to assist you with workshops tailored to your needs to ensure the correct handling of personal data at all times and to achieve data protection compliance.