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2018 marks the sixth consecutive year that the industry-leading tax publication International Tax Review names Deloitte Switzerland “Tax Firm of the Year”. Deloitte Switzerland was also chosen as “Transfer Pricing Firm of the Year” for the sixth time in the last seven years. Winning these awards stands testimony to the quality and sustainable success of the tax and legal practice of Deloitte Switzerland.
Clarification on the rights and duties of the board of directors in a recent court judgement – a general overview
In a landmark judgment dated 20 March 2018, the Swiss Federal Supreme Court clarified that any member of the board of directors (the “Board Member”) of a Swiss stock corporation may take action to enforce his/her right to information and inspection pursuant to art. 715a of the Swiss Code of Obligations. The court based its decision, inter alia, on the fact that such right of action ensures that Board Members are able to perform their legal duties as the highest management and supervisory body of a company, making clear the fact that, in addition to their rights, the Board Members also have various duties. Swiss corporate law does not provide a comprehensive overview of the rights and duties of the board of directors (the “Board”), making compliance ever more difficult in practice. We take the opportunity of this recent judgement to provide a short overview on the rights and duties of Board Members under Swiss law.
We are pleased to announce the release of our latest Global Workforce publication, which examines the best practice approach to Global Employment Companies (GECs) and the impact of the directive issued on 20 June 2017 by the Swiss Office of Economic Affairs (SECO) on the treatment of intragroup loan staffing arrangements in Switzerland.
Our live webcast was hosted on Thursday, 17 May 2018 from 4-5 pm (CET) which examine the current regulatory landscape for international business travellers, and the steps many employers are taking to centralise ownership, improve governance and compliance.
On 3 May 2018, Switzerland signed a double taxation agreement (DTA) on income with Brazil. The agreement now needs to be approved by the respective legislators in both countries. The DTA will avoid double taxation in the future and will provide legal certainty in tax matters when dealing with Brazil.
The agreement now needs to be approved by the respective legislators in both countries. According to the State Secretariat for International Finance (SIF), the Swiss Parliament should ratify this treaty in 2019. However, the ratification process in Brazil will likely take longer and is expected at the earliest in 2020, a ratification in 2021 or 2022 is therefore more realistic.
On 19 April 2018, the Court of Justice of the European Union (CJEU) ruled that taxpayers can apply the simplified rules for triangular sales for VAT purposes using a VAT number other than the number in the Member State of dispatch and arrival, even if they also are VAT registered in the Member State of dispatch (Case C-580/16).
The CJEU decision overturns some EU Member States’ positions prohibiting the application of the simplified triangular rules to taxpayers VAT registered in dispatch countries and gives an opportunity for businesses to simplify their invoicing process.
We are pleased to present the 2018 edition of Living and working in Switzerland, which provides an overview of the topics affecting foreign nationals moving to Switzerland.
Since the beginning of this year, the Swiss social security administration has digitised social security application processes. The Applicable Legislation Platform Switzerland (i.e. ALPS) has replaced paper applications to establish the appropriate social security treatment of cross-border mobile employees. The introduction of ALPS is part of an EU/EFTA-wide project to centrally share information (Electronic Exchange of Social Security Information (EESSI)). The electronic exchange of data is stipulated in EU regulations and is mandatory for all member states as of 1 July 2019.
Since the initiation of the Global Tax Reset there is an increased focus on Permanent Establishments (PEs). Now the OECD has published its Additional Guidance on the Attribution of Profits to PEs and the European Commission (EU) issued a proposal to tax digital services via PEs, we would like to give you a pragmatic update on the developments around PEs in recent years and how these changes might impact your business.
The recently revised Federal Act on Swiss Citizenship puts in place new eligibility requirements for applying for Swiss citizenship. We have listed below the most significant changes for the ordinary naturalization process that apply to all applications filed on or after 1 January 2018.
Since BEPS, multinational companies are operating in an environment of unprecedented complexity. The rising volume and variety of intercompany transactions and transfer pricing regulations, coupled with increased tax authority collaboration across borders present both risks and opportunities. Our transfer pricing updates will provide you with the latest transfer pricing issues and developments worldwide that may affect your business.