Global Forum: Switzerland scores well Bern, 06.04.2020 – The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) has also rated Switzerland as largely compliant in the second round of peer reviews on the exchange of information upon request. The report was published on 6 April 2020. It noted significant improvements, in particular as...Read More

FINMA implementing small banks regime The Swiss Financial Market Supervisory Authority FINMA is implementing the small banks regime at circular level as of 1 January 2020: small, particularly liquid and well capitalised banks are to be exempted from certain regulatory requirements. FINMA is adjusting eight FINMA circulars for this purpose. Following a pilot phase lasting...Read More

TRAF implementation: ordinances enter into force on 1 January 2020 Bern, 13.11.2019 – During its meeting on 13 November 2019, the Federal Council approved three ordinances to the Federal Act on Tax Reform and AHV Financing (TRAF). These amendments concerning the tax component will enter into force on 1 January 2020. The Ordinance on the Reduced Taxation of...Read More

Bern, 06.11.2019 – During its meeting on 6 November 2019, the Federal Council brought the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) – together with the implementing ordinances – into force as at 1 January 2020. Transitional periods of two years are provided for in principle. In the ordinances, the Federal Council has taken account...Read More

Switzerland has acknowledged the fact that European Union will remove the country from its grey list for tax havens following a reform of the corporate tax system. “Switzerland meets and implements international tax standards. The European Union has acknowledged this…” said a statement,external link released by the State Secretariat for International Finance (SIF), on Thursday. The country, which is a major EU economic partner, had...Read More