On 24 July 2019, the Swiss Federal Tax Administration (FTA) published a circular concerning the tax treatment of syndicated loans, promissory note loans, bills of exchange and sub-participations.
The circular letter "Tax treatment of syndicated loans, promissory note loans, bills of exchange and sub-participations" (1-046-VS-2019-d) is based on the previous FTA information sheet on the tax treatment of syndicated loans, promissory note loans, bills of exchange and sub-participations dated January 2000 (S-02.128), which has been adjusted due to the abolition of the issue tax on borrowed capital. In addition, some formal adjustments were made, but no other substantive changes.
The information leaflet has been redesigned as a circular letter, as the previous design as an information leaflet no longer represents a valid form of FTA publication.
All circulars in the tax field at federal level can be accessed here.
