In Your Best Interests
Our teams deliver coordinated legal advice to support you in doing business in an international context.
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We keep you up to date on all major legal news, nationally and internationally.
Our teams deliver coordinated legal advice to support you in doing business in an international context.
We keep you up to date on all major legal news, nationally and internationally.
Important news from the Value Added Tax (VAT) department: The Swiss Federal Tax Administration (SFTA) changed the VAT practice regarding the qualification of native tokens with governance function. All existing rulings concerning the qualification of such tokens are currently re-assessed. The SFTA communicates this practice change by individual letters to taxpayers who have previously obtained VAT advance rulings rather than by public announcement.
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In today’s world, awareness of environmental and sustainability issues in advertising is gaining legal significance. Consumers are increasingly seeking products and services that are environmentally friendly and sustainably produced. To meet this demand, companies and advertisers often use so-called Green Claims, such as «eco-friendly,» «CO2-neutral,» or «climate-neutral,» to highlight the environmental friendliness of their products or their business.
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On 1 January 2024, various amendments to Swiss foundation law will come into force. New provisions will be introduced in the following areas:
The revised insurance supervision act and the revised supervision ordinance will enter into force on 1 January 2024. The revision brings along the introduction of the prudent person principle. Furthermore, insurers which are exclusively engaged in the insurance of professional policyholders may upon request be exempted by the Swiss Financial Market Supervisory Authority FINMA (FINMA) from certain supervisory duties. On 31 October 2023, FINMA published its Guidance 06/2023 on these two topics. This newsletter focuses on the prudent person principle.
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On 19 October 2023 the Swiss Federal Tax Administration («SFTA«) provided new guidance on the taxation of blockchain related projects in the updated version of the “Dossier Tax Information: Cryptocurrency”. Further details on the tax treatment of non fungible Tokens, airdrops, staking and the token issuance to employees are presented. Unfortunately, the SFTA remains mostly silent on the taxation of DAOs.
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