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
- Partially revised VAT Regulation enacted in Switzerland
2017-10-18 |
News & Media
Partially revised VAT Regulation enacted in Switzerland
On 18 October 2017, the Swiss Federal Council passed the partially revised Value Added Tax Regulation (hereinafter "VAT Regulation"). It contains adaptations to the partially revised VAT Act (hereinafter "VAT Act") and other point-to-point changes. Both documents will enter into force on 1 January 2018 with the exception of the provisions on mail order trading.
A positive change is that the administrative burden is reduced. Thus, companies do not have to register as taxable persons with the Federal tax Administration, if they provide only tax-exempt services in Switzerland.
The regulation also defines electronic newspapers, magazines and books, which will become tax-deductible. They must fulfil essentially the same function as printed editions. The purpose is that newspapers, magazines and books can take advantage of the reduced rate regardless of their publication form.
Furthermore, the Regulation determines which collector items, such as works of art, antiques and the like, shall be subject to margin taxation. Margin taxation should be applicable to everything that can be traded in the field of fine arts. This means that VAT is also neutral for the art trade, without causing the disadvantages of fictitious tax deductions, which can lead to systematic under-taxation in the field of art.
It should also be noted that the Regulation contains clarifications on settlements with VAT net and flat rates.
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.
