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Companies are confronted with the evolving VAT (and GST) landscape in Switzerland and internationally every day. Getting VAT or other indirect taxes wrong can heavily impact your organisation, whether in terms of additional costs, or stiff penalties imposed by the authorities.
Now is the time for QI and FATCA ROs and tax compliance managers to begin preparing for the first certifications under the new QI agreement as well as the FATCA regime. To assist, Deloitte is hosting educational events in our Zurich and Geneva offices to provide information on QI and FATCA compliance and will share insights regarding the periodic review and certification process.
On 1 November 2017, the Council of State of the canton of Vaud announced that the cantonal tax reform project, approved by public vote on 20 March 2016, will become effective on 1 January 2019, instead of the projected 2020-2021.
The taxation of capital gains derived from the disposal of Swiss real estate held as private assets by an individual can be deferred under certain conditions if the revenue from the sale is re-invested in a replacement property in Switzerland. If the replacement property is sold as well at a later stage, the tax deferral will need to cease. In case the replacement property is located in another canton, the question of which canton has the right to tax the initial capital gains arises. A new decision of the Federal Court addresses this topic and determines that the canton, in which the replacement property is located, has the taxation right regardless of how long the replacement property has been owned.
On 3 October 2017, the Swiss Federal Tax Administration (“SFTA”) has updated Circular No. 15 regarding the taxation of bonds and derivative financial instruments.
Modifications have been made regarding mostly one-time interest bearing bonds, capital-guaranteed derivatives, bonds issued by foreign group companies with the guarantee of a related Swiss group parent company and structured products. Furthermore, welcome clarifications have been included regarding the tax impact of negative interest rates.
Global Human Capital Trends 2018 Survey: An invitation to help chart the transition to the future of work
For the past five years, Deloitte’s annual global Human Capital Trends survey has revealed evolving practices in talent, learning, leadership, performance management, organisational design as well as the ongoing evolution in the role, capabilities, and expectations of the HR function.
This year, with organisations increasingly focused on driving and sustaining organisational performance, our sixth annual survey seeks to understand how organisations are transforming the way they work, navigating the complex digital landscape, and creating a differentiated experience to capture the workforce of the future.
We invite C-suite executives, business leaders, and human resources professionals around the world to participate in this research. Last year, more than 10,000 of you from 140 countries took part in shaping the 2017 Trends. We hope you will continue to drive understanding of global human capital issues and trends by taking this year’s survey.
Swiss Federal Council releases work permit quotas for 2018: increased quotas for non-EU/EFTA nationals
On 29 September 2017, the Swiss Federal Council announced an increase of 500 work permit quotas for non-EU/EFTA nationals for the year 2018. The quota for EU/EFTA nationals on assignment (no Swiss employment contract) will increase by 1’000 for L permits and by 250 for B permits in 2018.
As of 1 January 2018, the quotas are therefore the following:
- 4'500 L permits for non-EU/EFTA nationals
- 3'500 B permits for non-EU/EFTA nationals
- 3'000 L permits for EU/EFTA nationals
- 500 B permits for EU/EFTA nationals
Within the framework of the partial revision of the Swiss Law on Alcohol (hereafter “LAlc”), the Swiss Federal Council approved at a meeting on 15th September the revision of the Swiss Ordinance on Alcohol (hereafter “OLAlc”).
The key aspects of these reforms will impact:
- Production, importation and commerce of spirit drinks
- Liberalisation of the ethanol market
- Shift of the implementing power to the Swiss Federal Customs Administration (hereafter “FCA”) and liquidation of the Swiss Alcohol Board
Register to our Commodity Trading Tax Breakfast - Navigating the international tax landscape in a post BEPS world
As cross-border transactions and multi-jurisdictional operations have been a key focus of the BEPS initiative, the arrangements typically undertaken by players within the global commodity trading industry have come under severe scrutiny.
We will host an international tax event focusing on the Commodity Trading Industry that will take place on Wednesday 8 November 2017 in Geneva.
Join our live webcast on Thursday, 2 November 2017 from 4.00pm to 5.00pm (CET) where we will be discussing the implications of the Posted Workers Enforcement Directive within the EU.
The international tax climate, and with that also the Transfer Pricing practice, is changing rapidly. Therefore we would like to give you an update on recent Transfer Pricing developments that have a direct impact on your business.
We will host our upcoming Transfer Pricing Breakfast to discuss these updates on 31 October 2017 in Zurich.