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31 May 2018
One of our clients has announced to launch an ICO of Asset Tokens. The Federal Tax Administration took our tax ruling request as a basis to define its practice with regards to stamp duty on the issuance of Asset Tokens and with regards to withholding tax on payments to investors. The Tax Administration confirmed that both issuance and payments to investors will not be subject to stamp duty and withholding tax respectively. Although not part of the ruling request, the Federal Tax Administration further mentioned in a side letter, that it holds secondary market transactions of Asset Tokens as basically subject to Swiss turnover tax, which is not surprising to us. The tax ruling was drafted by Christoph Niederer (Partner Tax) and Martin Dubach (Senior Associate Tax).
Categories: Tax, Deals & Cases
Attorney at Law, Swiss Certified Tax Expert
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