Tax and Legal blog
Stay up to date with the latest tax and legal issues and developments that may affect you and your business.
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Swiss Immigration Update – Review of Swiss immigration quotas in the first quarter of 2023
As the first quarter of the year has passed it is timely to take a detailed look at the Swiss immigration statistics. The federal authorities regularly publish statistics on the exhaustion of Swiss immigration quotas. For Swiss employers it is important to know that certain permit types are subject to quotas and that these are limited in number, depending on the future employee’s nationality and type of employment in Switzerland. The quotas are released on a yearly or quarterly basis and are distributed among the cantons and the federal authorities.
In this blog we examine the numbers of used and still available quotas among the different permit types and nationalities in the first quarter of 2023. This can help you plan your upcoming employment and assignments in Switzerland.
Potential abolishment of the Geneva Municipal Business Tax and increase of the income tax rate
Created at the end of the 18th century, the Municipal Business Tax (“MBT”) (Taxe Professionnelle Communale) is only levied by the municipalities of the canton of Geneva and covers the gainful commercial activity of legal entities and individuals carried on in the canton.
Join our Financial Services Tax webinar relating to high interest rates, withholding tax reclaims, Pillar 2 and VAT updates on 31 May 2023 at 8.30 am CET
We would like to invite you to our upcoming webinar on high interest rates, withholding tax reclaims, Pillar 2 and VAT updates on Wednesday 31 May 2023 at 08.30am.
Switzerland prepares to vote on global minimum tax
As countries across the world continue with their efforts to implement the OECD’s global minimum tax (Pillar Two, or GloBE Rules) into domestic law, we see Switzerland is continuing to lay the groundwork for the nation to adopt the rules.
The Swiss implementation journey began in June 2022 with the release of their roadmap to adopt the GloBE Rules. The roadmap intends to apply the income inclusion rule (IIR) and qualified domestic minimum top-up tax (Q/DMTT) as of 1 January 2024.
A referendum is scheduled on 18 June 2023, providing the federal government with the authority to continue with the implementation. As Switzerland continues to move forward, it is crucial for in-scope groups located in Switzerland to understand the financial reporting, disclosure and compliance requirements that are on the horizon. This leaves companies with the short time frame to assess the implications of the rules on the organizations.
Join our insightful breakfast on developments in US inbound investments in Zurich, 10 May 2023
Is the banking sector ready for tax technology?
The use of tax technology has been increasing over the last decade, as organizations seek to gain efficiencies and deliver more value from their tax data. However, this has developed more slowly in the banking sector than other industries. Specific challenges faced by banks can explain slower tax technology adoption, such as complex system infrastructure, special tax treatment applicable to the banking industry, dispersed tax processes responsibilities and higher data security restrictions. Given the current external and internal pressure on tax functions to increase efficiency, there is no better time to develop a tax technology agenda supported by strong business cases. Adopting new software solutions to improve tax processes is not necessarily a synonym of large project costs and disruption. From taking a step-by-step approach to bigger transformation plans there is a breadth of strategies to enable tax functions within the banking sector to initiate a tax technology journey.
Join our OECD Pillar II tax accounting seminar in Geneva, 9 - 11 May 2023
We would like to invite you to our OECD Pillar II/GloBE Tax Accounting seminar from Tuesday 9 to Thursday 11 May 2023 in the Deloitte office in Geneva. Over this three half-day workshop series (1pm to 6pm), our team of local tax accounting and Pillar II experts will provide an interactive training taking you from the basics of tax accounting to understanding key considerations of Pillar II.
Explore the Deloitte Human Capital Trends 2023
Deloitte’s Global Human Capital Trends investigates the world of work annually, drawing on a global survey of 10,000 business leaders in all industries. The 2023 edition of the report, available now, finds that the way we view work is changing radically.
How to become a Swiss national: a brief summary of the ordinary naturalisation process in Switzerland
Switzerland is famous for its delicious chocolate and cheese, stunning mountain landscapes, and its love of winter sports. From an immigration perspective Switzerland has one of the most powerful passports in the world, giving the passport holder access to 125 countries without the need to obtain a visa. Switzerland is also very attractive to immigrants because of its political and economic stability and high standard of living. But Switzerland also has some of the strictest naturalisation laws in the world, making the process often lengthy and challenging, even for those who have lived in Switzerland their entire life.
Join our Immigration Academy Workshops - only few seats left
Sign up for our Immigration Academy half-day workshops. This year we will be joined by the State Secretary for Migration (SEM) and together we will provide updates and discuss the latest developments in the field of immigration.
Join our insightful upcoming VAT Hybrid breakfast event on 16 March 2023 - simultaneously in Zurich, Geneva and virtually
We would like to invite you to our upcoming VAT Breakfast Event which will provide an update on recent Swiss and international VAT developments and upcoming changes. The event will take place on Thursday 16 March 2023 - at the same time in our Zurich and Geneva offices as well as online.