Indirect Tax in Tax and Legal blog

OECD GloBE update - Overview of the key parameters of the model rules

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On 20 December 2021, the G20/OECD Inclusive Framework on BEPS ("inclusive framework") published Tax Challenges Arising from the Digitalisation of the Economy Global Anti-Base Erosion Model Rules (Pillar Two) ("model rules"). This follows on from the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, agreed by more than 135 of its members on 8 October 2021.

Since 2017, the 141 member countries of the inclusive framework have developed a "two-pillar" approach to address the tax challenges arising from the digitalization of the economy: addressing nexus and profit allocation challenges ("Pillar One") and global minimum tax rules ("Pillar Two").

The long-awaited model rules provide more clarity on the future of a global minimum tax rate. Although the model rules have now been published and confirm the key parameters, further clarification on certain aspects is still required. Additional details shall be provided in a commentary that is expected to be published by the OECD by the end of January 2022.

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Posted on 22/12/2021 | 0 Comments

Join our VAT Breakfast hybrid events: Swiss & International VAT update

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Join us for this year's Hybrid VAT Breakfast Events which will provide an update on recent Swiss and international VAT developments and upcoming changes and will take place on Wednesday 10 November 2021 and Thursday 25 November 2021.

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Posted on 27/10/2021 | 0 Comments

Switzerland inches towards the complete elimination of tariffs on industrial goods

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The revised Swiss Customs Act will scrap tariffs on industrial goods. This is good news for Swiss companies and consumers alike, as intermediary goods will become cheaper and customs clearance more effective and less costly.

Both chambers of Parliament (National Council and Council of States) have approved a revised text of the Swiss Customs Act. Formal endorsement is expected during the Parliament’s Autumn 2021 session, and entry into force should follow as of January 1st, 2022.

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Posted on 27/09/2021 | 0 Comments

Deloitte is Swiss Tax Firm of the Year and Swiss Transfer Pricing Firm of the Year for the 9th time

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The International Tax Review (ITR), is a world recognised authority and publisher for tax professionals in industry, government, private practice and research and have just awarded Deloitte Switzerland with the accolades of being the Swiss Tax Firm of the Year and the Swiss Transfer Pricing Firm of the Year for the 9th time.

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Posted on 14/09/2021 | 0 Comments

Deloitte Global Trade Event - the intersection between sustainability and customs and trade compliance

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Have you ever thought about the intersection between customs & trade and sustainability?

We would like to invite you to our upcoming event addressing this very important topic on Wednesday 29 September at 15:30 (CEST) at our Deloitte premises, Pfingstweidstrasse 11, 8005 Zurich.

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Posted on 14/09/2021 | 0 Comments

Deloitte Global Trade Event - the intersection between trade and financial sanctions

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We would like to invite you to our upcoming event addressing the intersection between trade and financial sanctions on Tuesday 21 September at 15:30 (CEST) at our Deloitte premises, Rue du Pré-de-la-Bichette 1, 1202 Geneva.

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Posted on 8/09/2021 | 0 Comments

The new Swiss-French convention on precious metal and multi-metal articles: An extended trade facilitation opportunity

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As a positive example of enhanced cooperation, Switzerland and France have agreed to broaden the scope of their bilateral agreement on precious metals. The agreement now includes multi-metal goods.

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Posted on 3/09/2021 | 0 Comments

The revised Swiss customs tariff: An opportunity to bring your master data management to the next level

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The Swiss Federal Customs Administration has adapted to emerging trends and technologies in revising the Swiss customs tariff. This gives you an opportunity to review your existing product classifications and optimise your trade-related master data management.

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Posted on 21/07/2021 | 0 Comments

EU VAT - Financial services – Danske Bank A/S v Skatteverket (C-812/19)

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In the case C-812/19 Danske Bank A/S v Skatteverket (Danske), the Court of Justice of the European Union (CJEU) has held that the Danish VAT group head office is a separate taxable person to its Swedish branch for VAT purposes. The Court also commented on the territoriality of VAT groups which may affect EU Member States with a “whole legal entity” VAT grouping approach.

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Posted on 25/03/2021 | 0 Comments

VAT succession in the frame of an Asset Deal – draft practice published

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The Swiss Federal Tax Administration (SFTA) has reacted to the Federal Court decision dated 21 February 2020 ruling out that there is a (partial) VAT succession for Asset Deals, and published its intended practice in a first draft.
The outlined practice implies a very strict and lean interpretation of the Federal Court Case. According to this practice, a VAT succession in case of a transfer of a partial business only applies if said transfer takes place between closely related parties. Further details around the implementation of the practice, such as whether the SFTA intends to audit the VAT belongings of a transferred partial business at the transferee and based on what documentation, were not mentioned. This is to be figured out based on the general rules applicable.

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Posted on 8/02/2021 | 0 Comments