Corporate Tax in Tax and Legal blog

EU removes Switzerland from the “Grey List”

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The Economics and Finance Ministers of the EU member states decided at their meeting on 10 October 2019 to remove Switzerland from their so-called EU “Grey List”.

Switzerland has been included on the EU “Grey List” of third countries which had committed themselves to complying with international tax standards, but had not yet fully implemented such standards, since 2017.

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Posted on 10/10/2019 | 0 Comments

Global Trade Events in October 2019

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Our Global Trade Events - digitising customs documents and preference management were hosted on Thursday, 10 October 2019, Geneva and Tuesday, 29 October 2019, Zurich.

About the event:

Do you struggle to keep track of your customs documents such as proof of delivery or certificates of origin?

Many of you know the situation. Whenever there is an audit or the need to collect proof of delivery for a specific shipment or even worse, all shipments within a certain period, a cumbersome searching process begins. The complexity of product flows increases every day and the ability to manage the paperwork can not be neglected anymore.

Considering this, we designed Blockchain and SAP GTS based solutions to help you address and manage global trade-related documentary requirements. In a quick and streamlined way, you will have access to the respective documents, no matter how complex your sourcing, production or export processes are.

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Posted on 12/09/2019 | 0 Comments

DAC6 impacts multinational groups across all industries – here’s why!

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With the summer holidays coming to an end, it is the perfect time to continue or start thinking about how the latest amendment to the EU’s Directive on Administrative Cooperation (“DAC6”) impacts your organisation and initiate the necessary steps to ensure operational readiness in anticipation of the first reporting in summer 2020.

Many people are surprised when they hear that DAC6 affects not only tax advisors, lawyers and financial services providers, but also multinational groups across all industries (even if headquartered in Switzerland). In this blog, which is part of a series, we provide examples of how multinational groups could be involved in reportable arrangements, discuss reporting obligations, and share our views on what should be done next.

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Posted on 2/09/2019 | 0 Comments

Events in Zurich and Geneva: New intercantonal “re-structuring creativity” and/or intercantonal exit taxation in view of Tax Reform?

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Our Swiss Tax Reform Event New intercantonal “re-structuring creativity” and/or intercantonal exit taxation in view of Tax Reform? were hosted on Tuesday 03 September in Zurich or Tuesday 17 September in Geneva.

We discussed challenges and opportunities of intercantonal "re-structurings" in view of the implementation of Tax Reform.

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Posted on 31/07/2019 | 0 Comments

BREAKING NEWS: US Senate approved Swiss-US double tax treaty protocol

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On July 17, 2019, the US Senate approved the long-overdue 2009 protocol to the Swiss-US double tax treaty, the core element of which concerns administrative assistance.

Formally, the protocol will enter into force once the instruments of ratification are exchanged, which is likely to happen in the course of the coming months.

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Posted on 18/07/2019 | 0 Comments

IFRS tax accounting impact of Swiss Tax Reform

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On May 19, 2019 the Swiss public voted to adopt the Federal Act on Tax Reform and AHV Financing (“TRAF”) confirming the reform of corporate taxation in Switzerland.
The EXPERT Suisse published a Q&A on July 2, 2019 related to the IFRS tax accounting implications of the reform. For companies reporting under IFRS, we recommend reviewing the Q&A to for guidance on the impact, including re-measurement of the deferred taxes and potential disclosures in their 2019 Financial Statements which may already be applicable.

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Posted on 5/07/2019 | 0 Comments

The Swiss Federal Council kicks off Swiss withholding tax reform

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On 26 June 2019, the Swiss Federal Council informed about its intentions to reform the Swiss withholding tax system. The need for such a reform is two-fold: Firstly, the reform aims at strengthening the Swiss debt capital market. Secondly, it strives to increase tax honesty of Swiss resident individual investors.

The key parameters established by the Swiss Federal Council in its 1.5-page communication partially piggyback on the ideas presented in an expert board’s report early this year, which was discussed in a prior blog post.

The Swiss Federal Council mandated the Federal Department of Finance to prepare a consultation draft, which should be available in autumn.

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Posted on 4/07/2019 | 0 Comments

Our Industry Solutions for Global Trade Roundtable were hosted on 27 June in Basel

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Are you still struggling with generic customs solutions, which do not fit your industry specific flows? At Deloitte we recognise that each industry has particular requirements, driven by the products it offers, the customers it serves and the increased regulations it must comply with. Therefore, together with SAP we invite you to join our Industry Solutions for Global Trade Roundtable.

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Posted on 28/05/2019 | 0 Comments

Swiss Corporate Tax Reform bill approved by the Swiss voter, coming into effect on 1 January 2020

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On 19 May 2019 the Swiss voter finally lived up to its pro-business reputation and with 66% overwhelmingly voted “yes” to the so-called Swiss Tax Reform and AHV Financing Bill, after the previous Swiss tax reform bill was rejected by the voter in a referendum on 12 February 2017. It is now “all clear” for the enactment of the tax reform by the cantons as per 1 January 2020.

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Posted on 20/05/2019 | 0 Comments

“Tax Firm of the Year”: Deloitte Switzerland wins title for seventh year in a row

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Deloitte Switzerland was named “Tax Firm of the Year” for the seventh consecutive year by International Tax Review and “Transfer Pricing Firm of the Year” for the seventh time in the last eight years. Winning these awards stands testimony to the quality and sustainable success of the tax and legal practice of Deloitte Switzerland.

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Posted on 17/05/2019 | 0 Comments