Switzerland parliament ratifies tax treaty protocol with France
The Swiss Council of States (the upper house of parliament) announced that it ratified the pending protocol to the 1966 income and capital tax treaty with France on 30 May, 2024. The Switzerland-France protocol was first signed on 27 June, 2023,
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Peru and Switzerland begin talks to revise tax treaty in accordance with OECD standards
Peru and Switzerland officials are set to commence talks on 3–6 June, 2024, aiming to amend their 2012 tax treaty in alignment with OECD BEPS
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Switzerland proposes law to strengthen anti-money laundering, includes beneficial owners register
The Swiss Federal Council, in a release, announced the adoption of a new legislation to bolster the anti-money laundering framework on Wednesday, 22 May, 2024. This includes the establishment of a federal register of beneficial owners. The aim of
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EU seeks automatic exchange of financial account information agreement revisions
The Council of the European Union issued Council Decision (EU) 2024/1489 on Tuesday, 21 May, 2024, which authorised negotiations to amend agreements for the automatic exchange of financial account information. This initiative aims to enhance
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Switzerland: Cantonal tax law reforms due to Pillar Two global minimum tax
In response to the implementation of the Pillar Two global minimum tax in Switzerland, effective from 1 January, 2024, several cantons have adjusted their tax rates or initiated projects to enhance their appeal as business locations. The Canton
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Switzerland: Federal Council to consult on crypto-asset reporting framework
The Swiss Federal Council declared that it initiated a consultation regarding the automatic exchange of information by the Crypto-Asset Reporting Framework (CARF) on 15 May, 2024. Set to apply from 1 January, 2026, the extension concerns the new
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Switzerland releases Q&A guidance on application of transfer pricing rules
On February 23, 2024, the Swiss Federal Tax Authorities (SFTA) published the Q&A guidance regarding the application of transfer pricing regulations in Switzerland. This guidance clarifies the application of the arm's-length principle and the
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Switzerland publishes safe harbor interest rate limits for 2024
On 31 January 2024, the Swiss Federal Tax Administration released two circulars concerning the safe harbor interest rate limits for shareholders and related party financing for 2024. The rates vary based on whether the financing is in Swiss francs
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Switzerland publishes transfer pricing guidelines
On 23 January 2024, the Swiss Federal Tax Administration published the updated Transfer Pricing Guide. The main provisions of the guide include: An overview of the arm's length principle and the consequences of non-compliance under Swiss law.
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Switzerland to implement pillar 2 global minimum tax in 2024
On 22 December 2023, the Swiss Federal Council published a release in which it confirmed enforcing the Pillar 2 global minimum tax in Switzerland from 1 January 2024. As previously reported, the Federal Council will gradually introduce the global
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Switzerland increases tax payment interest rates
On 11 September 2023, the Swiss Federal Tax Administration announced amended interest rates for late payment, refund, and advance tax payments. The announcement includes interest rates as follows: Interest rate for late payment and refund -
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Switzerland plans to extend loss carryforward time limit
The Switzerland Federal Council has recently made an announcement indicating that there is an ongoing parliamentary consideration of a proposal to extend the period for carrying forward losses from 7 years to 10 years. The primary objective of this
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Switzerland approves global minimum tax rules
Switzerland has achieved a major milestone in the adoption of the global minimum tax and the Base Erosion and Profit Shifting (BEPS) 2.0 Project. This important development occurred when a constitutional amendment was successfully passed through a
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Switzerland plans to introduce OECD BEPS Pillar Two minimum taxation rule
On 24 May 2023, the Swiss Federal Council made an announcement outlining the introduction of the OECD Pillar 2 global minimum tax. This implementation is now awaiting a referendum vote scheduled for 18 June 2023. If this is accepted, the Federal
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Switzerland publishes safe harbor interest rates for 2023
The Swiss Federal Tax Administration (SFTA) recently released Circular Letter No. 203 and Circular Letter No. 204 on 7 and 8 February 2023, respectively. These circulars provide safe harbor interest rates for intercompany loans and advances in Swiss
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Switzerland suspends tax information exchange arrangement with Russia
On 22 September 2022, the State Secretariat for International Finance (SIF) of Switzerland published a notification declaring the suspension of exchange of tax information with Russia. The temporary suspension applies to all types of tax information
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Switzerland: Public Consultation on Minimum Corporate Tax Rules
On 17 August 2022 Switzerland launched a consultation on an ordinance to legislate for important elements in the OECD’s global minimum corporate tax under Pillar 2 of the international tax measures. The draft legislation would introduce a Swiss
See MoreIMF Report Looks at the Economic Situation in Switzerland
On 6 April 2022 the IMF issued a report following discussions with Switzerland under Article IV of the IMF’s articles of agreement. The Swiss economy recovered in 2021 following the crisis caused by the pandemic, with growth reaching 3.7% and
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