taxlawblog.ch Your blog on Swiss tax law

The Council of States, in its session of 12 September 2017, approves an amendment to the Federal Law on Stamp Duties, which provides that Italian fiduciary companies that serve as tax security (Fiduciarie statiche) will be exempt from the turnover tax.

At its meeting on 12 September 2017, the National Council, as the first Council to deal with the matter, rejects a motion concerning a change in the system of home ownership taxation.

In its session of 12 September 2017, the National Council discussed the differences concerning the Money Laundering Act.

The Conference of Cantonal Finance Directors (FDK) welcomes the Federal Council's rapid adoption of the consultation draft on tax proposal 17 (SV17) and supports the thrust of the proposal in principle. However, she is surprised that the Federal Council is sticking to a cantonal share of direct federal tax of only 20.5% instead of 21.2%.

According to a report by the Federal Council, the real progression in direct federal tax over the last 20 years has been balanced or even overcompensated for the majority of the population as a result of tax reforms. Single people and single-earner couples without children in particular experienced an additional burden.

The Federal Council is proposing to write off a motion by the Commission for Economic Affairs and Taxes of the Council of States (WAK-S) concerning the consideration of general and social deductions for persons with limited tax liability abroad.

At its meeting on 6 September 2017, the Federal Council opened the consultation process on tax proposal 17 (SV17).

On 31 August 2017, the Federal Tax Administration (FTA) published a first draft of VAT Info 06 "Place of supply of services".

From the 2018 tax period onwards, the Zurich Cantonal Tax Office will change its practice regarding the tax deductibility of flat-rate fees for third-party managed custody assets in excess of CHF 2 million.

Switzerland and Zambia signed a new double taxation agreement (DTA) in the area of income taxes on 29 August 2017.

In view of the partial revision of the Value Added Tax Act (MWSTG), the FTA has published the VAT invoicing forms applicable from the first quarter / semester 2018. With regard to the outcome of the vote on the 2020 pension scheme, which is still to be awaited, various variants with different tax rates are available.

On 18 August 2017, the Federal Supreme Court published a total of seven rulings dated 24 July 2017, in which it dealt for the first time with the provisions of the Swiss Withholding Tax Act (VStG) concerning the new rules on interest on arrears in the notification procedure, which came into force on 15 February 2017 (see our article of 7 February 2017).

At its meeting on 16 August 2017, the Federal Council sent a total revision of the Ordinance on Real Estate Costs for consultation. This is intended to clarify the tax measures in the building sector provided for in the new Energy Act. The entry into force is planned for 1 January 2020.

At its meeting on 16 August 2017, the Federal Council decided to bring into force an amendment to the Tax Harmonisation Act (StHG) regarding the place of taxation of brokerage commissions from real estate transactions on 1 January 2019.

On 19 July 2017 the supplementary agreement amending the double taxation agreement (DTA) in the area of taxes on income and assets between Switzerland and Belgium came into force.

On 11 August 2017, the Swiss Federal Tax Administration (FTA) published various adjustments to the share price lists (ICTax) regarding direct federal tax.

As from 1 August 2017, the guarantee for VAT for taxable persons not established in Switzerland will be recalculated.

On 26 July 2017 Switzerland and Ecuador signed a Protocol of Amendment to the Double Taxation Convention (DTA) in the area of taxes on income and wealth.

On 25 July 2017, the Federal Tax Administration (FTA) published the first drafts for the selective amendment of the VAT information 07 Tax assessment and tax rates as well as the VAT sector information 08 Hotel and catering industry. The adaptations relate in particular to terminology resulting from the new Food Act (LMG) that has just entered into force.

The State Secretariat for International Financial Matters (SIF) has updated its overview of the effects of the double taxation agreement (DTA) with Liechtenstein (extent of the relief).

Switzerland and France have reaffirmed their intention to maintain effective cooperation in the tax field based on the OECD standard.

The Federal Tax Administration (FTA) has published its Activity Report 2016.

The Federal Tax Administration (FTA) has published its "Tax Statistics 2016".

On 17 July 2017, Switzerland and Singapore signed an agreement on the automatic exchange of information in tax matters.

According to an announcement by the Federal Tax Administration (FTA) dated 21 July 2017, domestic investor funds formed by a non-life insurer supervised by FINMA are now considered exempt investors under the Stamp Duty Act.