As part of the implementation of the STAF, the Federal Tax Administration (FTATA) will no longer apply the federal practices for principal companies and Swiss Finance Branches from 1 January 2020.
On 19 May 2019, the electorate approved the Federal Law on Tax Reform and OASI Financing (STAF) (see our contribution of 19 May 2019). The STAF regulations are therefore expected to enter into force on 1 January 2020. At the same time, the FTA will completely abolish the federal practices for principal companies and Swiss Finance Branches. Unlike the abolition of the regulations for cantonal status societies, the abolition of these federal practices does not require any legal adaptation.
No new companies have been admitted to these two federal practices since 1 January 2019. This was communicated accordingly by the FTA on 15 November 2018 (cf. our contribution of 17 November 2018).
The Federal Council's media release of 22 May 2019 on this subject is available here.
The relevant communication of the FTA of 24 May 2019 is available here.
