Latest tax & legal developments for Switzerland

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Tax uncertainties for European headquarters and intermediary holding companies

In the short term, both European headquarters and intermediary holding companies will be faced with important new tax uncertainties. This is what you need to know to be well prepared.

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This is what changes in the Swiss VAT Act mean to you

The Federal Council has announced that the partial revision of the Swiss Federal Act on VAT (VAT Act) will come into force on 1 January 2018. The mail-order regulations will follow a year later on 1 January 2019. The Swiss VAT reform triggers some significant changes for businesses operating in Switzerland.

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This is what you need to know when you want to relocate to Switzerland

Located in the heart of Europe, Switzerland is a stable and safe harbour with a highly attractive legal and tax framework. This is what you need to know when you start considering relocating your family and/or your business to Switzerland. Early planning and preparation are key to a successful residency in Switzerland.

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MLI Matching Overview

On 7 June 2017, the multilateral instrument (MLI) was signed covering 68 jurisdictions, including the Netherlands, Belgium, Luxembourg and Switzerland. The MLI should accelerate the implementation of key Base Erosion and Profit Shifting (BEPS) measures into a large number of bilateral tax treaties. The overview below shows whether the bilateral tax treaties of the four jurisdictions with their most important treaty partners are so-called ‘Covered Tax Agreements’ (“CTA”) to which the MLI applies.

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Why CRS matters to Swiss asset and investment managers

The Common Reporting Standard (CRS) for Automatic Exchange of Financial Account Information entered into force in Switzerland this year, meaning that the first automatic exchange of information will occur in 2018 regarding 2017 data. This is why CRS matters to you as a Swiss asset and investment manager.

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Proposal EU: intermediaries must disclose potentially aggressive tax arrangements

On 21 June 2017, the European Commission submitted a proposal for a Council Directive (the proposal) introducing mandatory disclosure rules for intermediaries concerning reportable cross-border tax arrangements. The proposal also provides for an automatic exchange of the reported information to other Member States.

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Overview: MLI choices made by the Netherlands, Belgium, Luxembourg and Switzerland

What are the choices made by the Netherlands, Belgium, Luxembourg and Switzerland on the multilateral instrument (MLI) signing? Check our overview.

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Update Swiss Tax Proposal 17 (TP 17): the major changes

On 9 June 2017, the Swiss government confirmed the main parameters of a revised Swiss corporate tax reform package, the Tax Proposal 17 (TP 17). The most important adjustments are: no notional interest deduction and an increased base erosion limitation. Expected to enter into force in 2019 / 2020.

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Signing of MLI (multilateral instrument): BEPS measures speedily introduced

On 7 June 2017, the OECD BEPS project reached its next milestone with the signing of the multilateral instrument (MLI) by 68 jurisdictions in Paris. The MLI will modify a large number of existing bilateral tax treaties by speedily including anti-tax avoidance measures.

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ESMA planning to exclude letterbox entities from single market

On 31 May 2017, the European Securities and Markets Authority (ESMA) issued an opinion to provide further guidance to the national competent authorities (NCAs) of the remaining EU member states (EU27) on permitting UK market participants access to the single market.

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Loyens & Loeff appoints Marco Toni as partner

Loyens & Loeff, a leading European business law firm, has appointed Marco Toni as partner. Marco, attorney at law at the Zürich bar and member of the Corporate practice group, joined Loyens & Loeff in Zurich in January 2016.

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International business law firm Loyens & Loeff expands in Switzerland with new Zurich office

Strong sector focus and solution-driven tax, legal and regulatory advice combined with international expertise as largest differentiators.

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Could Switzerland be an alternative non EU location for pooling my assets?

Switzerland offers attractive possibilities for pooling assets and establishing family office structures for resident and non-resident individuals and families. With an attractive legal climate, the availability of services fulfilling the highest demands and access to all financial markets and instruments, Switzerland is certainly a location to consider. This is what you need to know when you consider moving your assets to Switzerland.

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This is how Switzerland implements BEPS

Switzerland only implements minimum standards under Base Erosion and Profit Shifting (BEPS). Therefore measures such as CFC rules or interest deduction limitations are currently not planned. However, the BEPS implementation will impact private equity investments and investment advisory firms in Switzerland. This is what you need to know.

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Three questions to self-assess your exposure to an EU State aid claim

Do you have business activities in an EU Member State? Are you a well-established market actor? Is your brand successful and well-known? Risk management requires reviewing whether your group is at risk of having benefited from unlawful State Aid. State Aid rules apply to all corporate taxpayers throughout the EU. These three questions help you to self-assess your situation.

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Four main steps to organise your CbC-reporting strategy and implementation

What is the best way to organise the preparation and filing of a group’s Country-by-Country (CbC) report? In light of the new OECD guidance on the implementation of CbC-reporting of April 2017, these are the four main steps that will help you to get through the process.

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The impact of Swiss Corporate Tax Reform III on your company

The abolishing of preferential tax regimes and the implementation of the expected Corporate Tax Reform III will challenge many Swiss operations of multinational enterprises. Holdings should not be affected on a large scale.

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Everything your family business needs to know about the UBO register

Currently the European Union is introducing a publicly available register that lists personal information of the ultimate beneficial owners of local legal entities in its member states (UBO register).

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Family business owners: the impact of EU wide reporting obligations

You will have noticed that the volume of financial data required to be shared nowadays is increasing. Banks, governmental authorities and even commercial business parties are requesting more and more information about you and your business. Have you wondered what happens to all this information? This is what you need to know.

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Regulatory relaxations for Fintech companies in Switzerland

In November 2016, the Swiss Federal Council published its Fintech strategy. The strategy focuses on promoting innovative forms of financial services in order to strengthen the Swiss financial centre.

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The 7 most important challenges for Commodity Traders

Increased transparency and interest deduction limitations are key challenges for you as a Commodity Trader. How do OECD Base Erosion and Profit Shifting (BEPS) and the EU Anti-Tax Avoidance Directive (ATAD) for instance affect your business? We list the 7 most important challenges  of international tax developments – and their solutions.

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ATAD 2’s impact on U.S. multinationals

Many US multinationals use foreign hybrid entity structures to optimise their non-US effective tax rate and/or to defer US taxation on their non-US. earnings With ATAD 2, EU member states are now given the tools to tax such earnings. This is what you need to know about the impact of ATAD 2 on your business.

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How to keep your family business and wealth structure up to date

The political agenda over the past decade resulted in international anti-tax avoidance measures and global transparency initiatives. We expect and already experience that families face discussions with authorities, financial institutions and business partners about their legal set-up.

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How to do cross-border business under AIFMD

The management and marketing of alternative investment funds in the EU is subject to the Alternative Investment Fund Managers Directive (AIFMD). While the AIFMD introduced a passport for entities located within the EU, third country funds and managers are currently excluded from the common internal market of the EU. However, there are other opportunities to access the European market.

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Need-to-know on new Swiss financial regulations

Two new acts will significantly change the regulatory environment for financial services providers in Switzerland: The Financial Services Act and the Financial Institutions Act will introduce new investor protection provisions and new licensing requirements for asset managers.

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MiFID II/MiFIR: The extra- territorial scope of the new EU share trading obligation

The new Market in Financial Instruments Regulation (MiFIR) will introduce a share trading obligation. This requires EU investment firms to trade shares on an EU trading venue, with an EU systemic internaliser or an equivalent third country exchange only.

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The challenges of BEPS for treasury: are you prepared?

Your task as the treasurer of a multinational is to ensure that the business has sufficient cash available at all times, against minimal financing costs. The OECD’s Base Erosion and Profit Shifting (BEPS) Project will make managing net financing costs even more challenging. These are the three steps treasury plans to take to deal with the challenges successfully.

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Succession planning for internationally mobile clients

Borders between nations fade as you do business and live your life across the globe. What happens with your wealth when you would suddenly pass away? Where is it taxed? Would there be double or even multiple taxation?

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Loyens & Loeff advised KKR on the acquisition of Selecta Group from Allianz Capital Partners

KKR, a leading global investment firm, successfully acquired over 90 percent of the shares in Selecta Group from Allianz Capital Partners, Allianz Group's in-house investment manager for alternative investments.

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Consequences of Swiss Corporate Law Reform

The Swiss Federal Council published its dispatch for a reform of the Swiss corporate law on 23 November 2016. The bill amending the Swiss Code of Obligations aims to modernise corporate governance by strengthening shareholder rights and promoting gender equality.

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The ABC of Luxembourg’s main alternative investment fund regimes

As premier international hub for funds, Luxembourg has a comprehensive offering of solutions for fund vehicles and regimes in the field of alternative investment strategies. What are the basics that you need to know as a manager when looking to set up a fund in Luxembourg and what are the most sought after fund structures?

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