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FinSA / FinIA are just around the corner

FinSA / FinIA are just around the corner

FinSA / FinIA – Our blog series with the most important findings for the business world

According to the Federal Council's timetable, the Financial Services Act and the Financial Institutions Act are to enter into force on 1 January 2020. The results of the consultation on the corresponding Federal Council ordinances are available. We expect the Federal Council to publish the definitive texts of the ordinances in October 2019.

The End of Bearer Shares - An Update

The End of Bearer Shares - An Update

On 21 June 2019, Parliament passed the new Federal Act on the Implementation of Recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The referendum period runs until 10 October 2019. The new law is expected to enter into force at the end of this year or the beginning of 2020.

Reform of withholding tax - Paying agent tax on interest

Reform of withholding tax - Paying agent tax on interest

Swiss Government approves the objectives and key figures for a paying agent tax

Following the National Council's Commission for Economic Affairs and Taxes (WAK-N), the Swiss Government has also published its key figures for a reform of the Swiss withholding tax ( available only in German). The key figures are largely identical, but there are differences in detail. The Swiss Government also plans to combine an exemption of foreign investors with an improvement of the safeguarding purpose for domestic taxpayers.

Reform of Swiss withholding tax

Reform of Swiss withholding tax

Subcommission publishes key figures of a paying agent interest tax

The sub-commission appointed in November 2018 (available only in German) by the Commission for Economic Affairs and Taxes of the National Council (WAK-N) has published key figures for a reform of the Swiss withholding tax on interest. Even though the entire commission agreed on the publication (available only in German) of the key figures, it is not binding for her.

Is there a legal right to a bank account in Switzerland?

Is there a legal right to a bank account in Switzerland?

Access to payment services is particularly important in these digital times. Often a bank account is required. In the EU, every consumer legally resident in the EU has a right to an account (Directive 2014/92/EU). An account may be refused in the EU if a consumer infringes the rules on combating money laundering or terrorist financing (bank accounts in the EU). There is no general explicit legal provision in Switzerland. Is there therefore no legal entitlement to a bank account in Switzerland?

Reform of Swiss Withholding Tax - Paying Agent Tax?

Reform of Swiss Withholding Tax - Paying Agent Tax?

Report of the expert group set up by the FTA released

The seemingly never-ending work on a reform of the Swiss withholding tax has reached another intermediate stage. Following the withdrawal of the federal popular initiative "Yes to the protection of privacy" in January 2018, the expert group appointed by the Federal Department of Finance intensified its work and completed it in December 2018. Following the Federal Council's information session, the expert group's report* was released on 8 March.

Federal Council publishes implementing provisions for the new FinTech licence

Federal Council publishes implementing provisions for the new FinTech licence

On 30 November 2018, the Federal Council published the amended Banking Ordinance with the long-awaited implementing provisions for the new FinTech licence. The rules for this new licence will come into force on 1 January 2019.

How are the Powers of Shareholders and Management delineated?

How are the Powers of Shareholders and Management delineated?

Shareholder Activism Series: A Primer on the Swiss Legal Framework

This blog series puts the spotlight on legal issues relevant to activist shareholders and event-driven institutional investors in Swiss target companies and introduces market participants from abroad to the pillars of Switzerland's legal framework.

Why can it be difficult for Activists to get Access to the Boardroom?

Why can it be difficult for Activists to get Access to the Boardroom?

Shareholder Activism Series: A Primer on the Swiss Legal Framework

This blog series puts the spotlight on legal issues relevant to activist shareholders and event-driven institutional investors in Swiss target companies and introduces market participants from abroad to the pillars of Switzerland's legal framework.

When do you have to disclose your Shareholding in a Swiss Target?

When do you have to disclose your Shareholding in a Swiss Target?

Shareholder Activism Series: A Primer on the Swiss Legal Framework

This blog series puts the spotlight on legal issues relevant to activist shareholders and event-driven institutional investors in Swiss target companies and introduces market participants from abroad to the pillars of Switzerland's legal framework.

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