News & Media
2021-05-24
The Swiss Financial Market Supervisory Authority FINMA is updating the procedure of the online identification using the NFC verification by scanning the chip embedded in biometric identity documents.
- Swiss Law Firm
- News & Media
- Automatic tax information exchange with Switzerland in force for two more countries
2017-01-05 |
News & Media
Automatic tax information exchange with Switzerland in force for two more countries
The tax information exchange agreements (TIEAs) signed by Switzerland with Belize and Grenada in 2015 and put into effect in 2016 apply from January 01, 2017. TIEAs are intended to establish the rules for exchanging information concerning tax matters at a contracting party's request. The tax information exchange under TIEAs may be related to individuals, companies or any other bodies of persons, corporations or any entity treated as a body corporate for tax purposes.
TIEAs (alongside the double taxation agreements or DTAs) are instruments designed to facilitate administrative assistance on tax matters and are adopted by the Federal Council. As almost equivalent instruments, TIEAs and DTAs regulate solely the exchange of tax information upon request, while DTAs primarily eliminate or alleviate (minimize) the territorial double taxation of the same income arising in one territory and paid to residents of another one, and thus contain other material provisions in this regard.
Switzerland has already concluded TIEAs with several offshore jurisdictions including Andorra, Belize, Brazil, Greenland, Grenada, Guernsey, Isle of Man, Jersey, San Marino and Seychelles. All of these agreements are currently in force with the exception of the TIEA with Brazil. It is expected that more agreements will be put into place.
It should also be noted that the double taxation agreements concluded by Switzerland with the following countries are entering into force as of January 01, 2017:
1. Albania;
2. Liechtenstein
3. Norway;
4. Oman.
Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The article should be used for informational purposes only.
News & Media
2021-04-07
The publishing of this case report confirms FINMA's accountability obligations regarding its enforcement activities. The case report includes anonymized and generalized cases which were concluded with a court decision.
News & Media
2021-04-06
Bern, April 04, 2021 – The Swiss Institute of Intellectual Property (IPI) took an active role in 280 cases of “Swissness” excessive use in 2020. The IPI controls the use of the Swiss national emblem and destroys such goods during the customs examination. Now private and high officials start working together to control the “Swissness” fare dodger abroad.
News & Media
2020-12-15
The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.
