More favourable conditions for Cypriot businesses with Swiss ties under new DTT   On 21st July 2020, Cyprus and Switzerland signed a protocol amending the 2014 double taxation agreement with the aim to strengthen the economic relations between them by eliminating double taxation on income and capital, while at the same time preventing reduced/no taxation...Read More

FINMA authorises SO-FIT as supervisory organisation under FinIA and FinSA   Earlier in July, the Swiss Financial Market Supervisory Authority (FINMA) granted the first authorizations to the Geneva-based Surveillance des Instituts Financiers (OSIF) and the Surveillance Financière-based Organization based in Neuchâtel (OSFIN) to act as supervisory bodies under FinIA and FinSA. It has now been...Read More

Switzerland and Liechtenstein ratify the Protocol amending their Double Taxation Agreement   The Protocol amending the Double Taxation Agreement (DTA) on income and wealth taxes between Switzerland and Liechtenstein has been ratified in Bern this July 14th. The amendment has the aim to introduce an anti-abuse clause, completing the provision on the amicable procedure in...Read More

FINMA grants authorization to the first Supervisory Organisations under FinIA/FinSA The new surveillance system Starting from January 1st, 2020, the Financial Institutions Act (FinIA) and the Financial Services Act (FinSA) have introduced a new regulation concerning the activity of asset managers and trustees, which, in order to practice, will require formal authorisation from FINMA. Furthermore,...Read More

Blockchain and distributed ledger technology: no repercussions for tax law Bern, 19.06.2020 – During its meeting on 19 June 2020, the Federal Council took note of the report on the need to amend tax law with regard to blockchain. The report concluded that no special legislative amendments to tax law are necessary. As regards income,...Read More