New trends, insights and decisions. We show which topics are relevant and trend-setting in the areas of legal, tax and compliance.
Molecule AG raises USD 12.7m in Seed Financing
MME enters the rankings for the first time this year, and has considerable strengths in estate planning and family business succession, among other private client-related matters.
With the total revision of the Federal Act on Data Protection (FADP), not only the Ordinance to the Data Protection Act (DPA) is being revised, but also the Ordinance on Data Protection Certifications (DPC).
Nevermined raises EUR 3m in Seed Financing
As of December 31, 2024, the concessions granted for the operation of casinos and online casino games in Switzerland will run out. On April 27, 2022, the Federal Council decided to newly allocate 23 concessions (10 A-concessions and 13 B-concessions). Here is an overview over the procedure:
In our article you will find answers to the question as to which social security system employees of Swiss employers are subject to if the employees live in the EU/EFTA area and work partly from home (telework/ home office).
What do (foreign) trustees have to bear in mind when encountering Swiss inheritance law?
Digital technologies and innovations such as artificial intelligence (AI), the Internet of Things (IoT), distributed ledger technologies (DLT), smart contracts and data mining (DM) are leading to a fundamental rethink of the entire value chain in the insurance industry.
On June 22, 2022, the Swiss Federal Gaming Board (SFGB) published the annual activity report of 2021 and presented the latest figures related to casinos.
Supreme Court Rules on scope of Section 1782 regarding international arbitration
Participation programs offer excellent opportunities to motivate employees and win them over to the company. The allocation of phantom shares can be an alternative to the allocation of "real" shares.
Many GTCs are outdated and do not cover current risks (data protection, cyber risks, inflation, power outages, etc.).
From 1 July 2022, marriage in Switzerland will be open to all individuals, regardless of their gender or sexual orientation.
As of 1 January 2023, several changes regarding the withholding tax notification procedure for intra group dividends will come into force. This affects domestic and cross-border intra group dividend payments.
At its meeting on 27 April 2022, the Federal Council made fundamental decisions on the casino landscape in Switzerland from 2025.
MME is once again among the leading law firms in Switzerland in this year's BILANZ ranking.
MME is one of the top-rated legal services providers in the ranking in 14 categories.
This year, MME has also been successful in the Legal 500 ranking and received awards in a total of 8 categories.
In our article, we have answered frequently asked questions by employers in connection with the employment of protection seekers from the Ukraine.
What are the main differences between the two instruments?
MME advised HTI Group on its acquisition of a majority stake in Bartholet.
A member of the Board of Directors is part of the supreme governing body and thus ultimately bears joint responsibility for the company. The board member's activity is therefore inevitably associated with risks that can ultimately lead to personal liability. How can such a risk now be reduced?
What do the sanctions against natural persons and companies that have been put into force as a result of Russia's attack on Ukraine mean for employees of sanctioned persons or companies?
The Ordinance 3 on Measures to Combat the Coronavirus (COVID-19 Ordinance 3) issued by the Federal Council contains, among other things, restrictions on the entry to Switzerland.
The Swiss Federal Council responds to the conflict in the Ukraine by adopting the EU sanctions package in full. This is a departure from previous practice, and reaffirms Switzerland's unwavering commitment to upholding international law, and to the preservation of peace and international security. It also signals a policy rapprochement to its major trading partner, the EU.
3G Capital completes acquisition of controlling interest in Hunter Douglas, the world market leader in window coverings.
With the entry into force of the Federal Law on Tax Reform and AHV Financing (STAF) on 1.1.2020, new tax incentive instruments for specific business functions have been introduced within the framework of ordinary taxation.
Non-fungible tokens (NFT) are on everyone's lips. However, the VAT practice on supplies in connection with blockchain and distributed ledger technology, published by the FTA in June 2019, does not (yet) contain any specific guidance in this area. Hence, certain VAT-related questions currently remain unclarified.
Swiss consortium backed by White Summit Capital, IST3 Investment Foundation, and Reichmuth & Co. has acquired a diversified portfolio of small-hydro and wind assets in Iberia.
With the introduction of the Gaming Act, the taxation of gaming winnings was also newly regulated. The article explains how the tax consequences of gambling can be correctly determined.
Questions arising from the perspective of employers and employees
On January 20, 2022, the OECD released the 2022 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.
In our article you will find an overview of frequently asked questions regarding terminations in connection with short-time work.
After the home office obligation had been lifted for a short period of time, the Federal Council decided to reintroduce a home office obligation, due to the worsening of the epidemiological situation in November and December 2021. However, the home office requirement could likely be repealed as early as Feb. 3, 2022.
The variants of the coronavirus are spreading rapidly. This poses great challenges and raises questions for employers and employees.
Sooner or later, anyone moving to Switzerland will be confronted with a request for an extract from the debt collection register (“Betreibungsregisterauszug”). This document is regularly requested when applying for rented accommodation and sometimes also when applying for a job. What is it all about?
Since September 13, 2021, employers may request their employees to present a covid certificate as part of their duty of care, if this serves to determine appropriate protective measures or the implementation of a testing concept.
On December 1, 2021, the Swiss Tax Conference published a new methodology for determining the capitalization rate for the valuation of non-listed shares (see SSK KS 28 of December 1, 2021 ["KS 28"]).
The capitalization rate has increased to 9.5%, and consequently, the company values will decrease.
The Federal Council aims to implement a legal basis for the establishment of a Swiss trust and opened the consultation process at its meeting on 12 January 2022. The introduction of a Swiss trust will provide an additional, flexible estate planning instrument – a new alternative to foreign legal institutions and existing structures under Swiss law.
In the past, the world was simple. Contracts were concluded with a handshake or drawn up on paper and signed by hand. Today, despite digitally signed contracts, it can happen that a billion-dollar deal is void because of a formal error.
The digital world is complex and we regularly do things whose legal consequences we do not think about.
The Model Rules published by the OECD are the next step towards a global minimum tax. One of the key elements is the multi-level top-up tax calculation to identify low-taxed jurisdictions.
Joe Biden's administration has pushed a new law through Congress on 23 December 2021 that will come into force on 22 June 2022.
Heirs resident in Switzerland of a deceased person who died in France must also pay French inheritance tax on real estate located in Switzerland. The burden can be significantly reduced if the deceased held the property during his lifetime in a special form of company, a so-called "Pacte Dutreil".
In its ruling of November 29, 2021, the Federal Administrative Court decided that - contrary to the FTA's previous practice - losses do not have to be offset with contributions in the balance sheet in order for the restructuring contributions to be exempt or waived from the stamp duty.
The calendar year is already drawing to the end and for many companies this also means the end of the current financial year.
Securities dealers subject to Swiss stamp duty include Swiss entities whose business activity consists to a significant extent in acting as intermediaries in the purchase and sale of shares.
The revision of medical device legislation in the EU and Switzerland is intended to improve the quality and safety of medical devices and patient safety. This article gives you an overview of the most important changes.
In Switzerland, pension contributions into the pension systems are tax deductible in the year of the payment. In contrast, pension benefits are subject to taxation in the year of payout.
When private individuals or companies move to Switzerland or group companies are established in Switzerland, there is a lot to do. The review and, where necessary, procurement of insurance cover should not be forgotten.
A small fleet of Mobileye Level 4 autonomous vehicles is to be deployed in Munich by the end of 2022. At this level, vehicles are allowed to drive without a driver, steering wheel or pedals.
The current revision of medical device legislation came into force six months ago, but numerous aspects of the reform are still unclear and are causing uncertainty in the industry. A central question in the regulation of medical devices is, which products are covered by the regulations. This article therefore provides an overview of the scope of the revised medical device law - with a focus on the adapted definition of the term "medical device".
With the partial revision of the Chemicals Control Ordinance (ChCO), the Federal Council has changed the control and authorization procedures for the handling of chemicals that can be used for both civilian and military applications. In this respect, the competences of the State Secretariat for Economic Affairs (SECO) have been increased. In the same course, amendments were also made to the War Material Ordinance (WMO). According to both the revised ChCO and WMO, proof of a functioning and sustainable ICP is a basic prerequisite to obtain an export authorisation as of November 1, 2021.
In its decision of 5 October 2021, the Swiss Federal Court ruled that the sale of own shares is to be treated for VAT purposes like a capital contribution and not like a sale of "third-party shares".
The Financial Action Task Force (FATF) - which makes anti-money-laundering rules followed by governments worldwide - has on 28 October 2021 published its updated Guidance for a Risk-Based Approach for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs).
While other European countries such as Germany, Spain, Italy and France have become less attractive to immigrants, Switzerland is the only European country to improve its ranking in the top 10 of the Global Talent Study 2020.
The Swiss VAT treatment is to be reviewed due to more detailed rules for Irrevocable Fixed Interest Trusts.
Most countries in the world levy a value added tax, sales tax or similar, although the tax rates can be very different. Read more in our article, why Switzerland is so attractive for businesses in terms of the VAT.
Transition Benefits: Federal Act and Ordinance enter into force.
Anyone who introduces a whistleblowing system must comply with strict data protection requirements. The implementation is considered to be extremely challenging - especially if people in the EU are affected - as there are several hurdles with regard to data protection. The legally compliant introduction of a whistleblowing platform therefore requires thorough preparation.
Which inheritance law applies when a (non-Swiss) married couple, or registered partners move to Switzerland? What impact does the relocation have on the existing estate planning?
The Federal Department of Finance (FDF) is standardizing the interest rates for late payment and refunds of taxes and duties. From 1 January 2022, the standard rate for interest on late payments and refunds will be 4 percent.
Crypto assets in the estate: how and to whom are crypto assets bequeathed? How can the heirs' access to the crypto assets be ensured?
In its decision of 19 May 2021, the Federal Council decided that the first part of the revised inheritance law will come into effect on 1 January 2023.
The source tax does not fully settle the tax liability in Switzerland in all cases. This article points out under which circumstances a tax return must be filed despite being taxed at source. It further explains how a voluntary declaration could save taxes..
Finally, this article provides an overview of the need for action arising from the current revision for healthcare facilities such as hospitals, practice facilities and pharmacies.
Swiss Stamp tax - Banks in Switzerland are now able to choose between three recognised data providers for the classification of securities. This increases flexibility and helps to reduce risks. Read more about it in the following post.
The federal stamp duty law is also applicable in the Principality of Liechtenstein pursuant to the Customs Union Treaty between Switzerland and the Principality of Liechtenstein. The payment of insurance premiums by a Liechtenstein policyholder to a foreign insurer may result in the Liechtenstein policyholder having to declare and pay the stamp duty taxes to the Swiss Federal Tax Administration (FTA). The FTA has recently made Form 12 FL available to Liechtenstein policyholders.
With the acceptance of the Tax Reform and AHV Financing ("TRAF") by the Swiss voters, various tax incentives were introduced in the Federal Act on the Harmonisation of Direct Taxes (FTHA). Among others, the cantons can allow an additional deduction for research and development carried out in Switzerland ("R&D super-deduction").
The question of a "roof over one's head" is one of the most basic needs when moving to another country. The following information will provide an overview of the basics of Swiss tenancy law to new residents.
The report on the new agreement was approved by the Federal Council on August 11, 2021.
The EU Whistleblower Directive came into force on 16 December 2019. This magazine article explains the directive and points out the impacts on Swiss companies.
Due to the total revision of medical device legislation in Switzerland and the EU as of May 26, 2021, an update of the MRA is necessary.
This article provides an overview of the call for action resulting from the revised regulation for distributors of medical devices.
WorldECR is delighted to be publishing the first book focused solely on global encryption export controls – a must-have publication for any company, exporting, manufacturing or distributing tangible or intangible products that use encryption technology, regardless of its complexity or sophistication – or whether intended for civilian or military use.
This article provides an overview of the need for action that arises for importers of medical devices as a result of the current change in the law.
International Arbitration, Swiss Rules, Rules of Arbitration
Since July 2020, the Confederation has compiled a list of countries and regions where there is an increased risk of infection with the coronavirus (so-called FOPH risk list). In addition, the SEM maintains a list of risk countries (so-called SEM risk list) showing the countries for which special restrictions apply regarding a potential entry into Switzerland.
The Swiss Radio and TV fee is based on the turnover declared for Swiss VAT purposes. According to legislation and the current practice on the Radio and TV fee, the VAT-exempt turnover also flow into the basis.
The regulator and also courts are tightening the ESG screw.
On January 9, 2021, the Chinese Ministry of Commerce put into force a new regulation to combat unjustified foreign laws ("Blocking Rules"). The regulation aims to ban foreign sanctions and measures
Switzerland has revised its medical device legislation in close alignment with EU regulations. The revision aims to improve the quality and safety of medical devices and thus patient safety. For this purpose, the regulatory requirements for the involved actors are considerably tightened.
The MME ESG team offers you an interdisciplinary ESG workshop at a fixed price. Does my company fall under the new CSR reporting requirements? How do I deal with supply chain risks involving child labor and conflict minerals? How will my customers react?
This article provides an overview on the key topics addressed by the DeFi Policy-Maker Toolkit. Interested in more details? The Toolkit as well as the highly recommended accompanying publication “DeFi Beyond the Hype” are open and free to anyone and can be downloaded here:
In Switzerland and Europe, companies are under attack from highly criminal cyber attackers. The MME Cyber Risk Incident Team has been challenged in recent weeks. Below is a selection of the cases that we supported and the tasks that MME performed:
Since 31 May 2021, employers are exempt from the work from home compulsory if they implement a test concept.
Following an increasing number of devastating incidents involving defective medical devices in the past - such as leaking silicone breast implants or faulty hip prostheses - the control mechanisms for such medical devices have recently been tightened across Europe. Switzerland, too, has revised its national medical device regulations in close alignment with the EU provisions. This article provides an overview of the general changes to be considered by all actors in the medical device value chain.
MME was mandated to provide comprehensive legal advice to Tadah AG ("Tadah") on another substantial financing round. The MME team was led by Dr. Alex Enzler (Partner, Corporate).
Banks and insurance companies are required to inform the public adequately about their risks. These also include the consequences of climate change, which could pose significant financial risks for financial institutions in the longer term. FINMA is requiring large banks and insurance companies to provide qualitative and quantitative information in this area and is amending its circulars on disclosure.
What social insurance schemes exist in Switzerland and who is subject to them? What social security deductions must be expected when a company is to be founded in Switzerland? What else should be considered or recommended?
The Liechtenstein family foundation as an instrument for the protection and bequest of assets within the family.
Matrimonial property law regulates which spouse owns which assets during the marriage as well as in case of a dissolution of the matrimonial property regime upon death or divorce. Furthermore, it provides for rules how increases in value arising during a marriage are to be divided and how reciprocal debts between the spouses are to be offset.
MME’s Jonatan Baier and Corina Moschen have published the article "New IBA Rules for Taking Evidence” in the April 2021 Expert Witness Journal.
When moving to Switzerland, a number of questions arise from the perspective of immigration law. This article sheds light on the most important of them.
This article provides an overview of how you, as an SME, can easily and efficiently manage your shareholders in various areas if your company issues shares in the form of ledger-based securities.
BILANZ and Le Temps have awarded MME as a top legal, tax and compliance firm in 18 categories and 2 industries in 2021.
In Switzerland, there is a lot of confusion and uncertainty in the area of digital signing processes. What are suitable technical solutions for digitizing existing paper-based processes with customers, suppliers, and employees in a legally secure way?
This article addresses the revision of the Federal Act against Unfair Competition (UCA) adopted by the Swiss Parliament in connection with the fair price initiative with which, a ban on so-called geoblocking in e-commerce shall be enshrined in law.
As a result of the fair price initiative, the Swiss parliament has adopted a revision of the Federal Act on Cartels and other Restraints of Competition (Cartel Act; KG), whereby the concept of relative market power shall be introduced in Switzerland. Associated with the introduction of the concept of relative market power are new (more drastic) behavioral obligations for domestic and foreign companies. This article discusses associated competition law risks and legal uncertainties.
Anyone who wants to offer their services and products to the public sector (federal government, canton, municipalities) in the future would do well to address the issue of sustainability. What does sustainable public procurement mean in concrete terms?
On 14 April 2021, the confederation opened the consultation on the ordinance on the group notification procedure for withholding tax on dividends. The extension of the notification procedure will lead to an appreciated administrative relief for companies and tax authorities. The consultation period runs until 14 July 2021.
Once the restrictions surrounding Covid-19 are over, many companies and shareholders are unlikely to want to do without the benefits of new technologies that they have just gained and thus without the "virtual general assembly".
The legal succession is not always advantageous, since, for example, couples who live together but are not married are not legal heirs of each other. If you want to make your own decisions about your assets, you must draw up an inheritance contract or a last will.
On 1 April 2021 the Swiss Federal Tax Administration, VAT Department ("FTA") published the new draft Swiss VAT practice clarification regarding the receipt of subsidies that result in a reduction of the input tax deduction.
For VAT purposes, the delegation of the "staking function" of tokens is in principle to be qualified as a taxable service of the token holder to the validator. A corresponding ruling request was positively confirmed by the FTA.
What specific changes does the new partial revision bring?
The double tax treaties between Switzerland and Brazil as well as between Switzerland and Saudi Arabia entered into force on 16 March 2021, respectively on 1 April 2021 and will be applicable effective January 1, 2022.
An Egyptian court ordered the arrest of the EVER GIVEN, loaded with 20,000 TEU, on 13 April 2021 due to claims by the Suez Canal Authority (SCA). This leads to great uncertainty among the parties interested in the cargo. What happens next? What are the risks? Which precautions should be taken?
With the revision of Ordinance 1 to the Labour Code, the Federal Council has in particular regulated the creditability of working hours during cross-border business trips. Read in this article, what these new rules entail.
The Swiss Federal Tax Administration publishes the Swiss VAT practice clarifications in connection with the offering (formerly distribution) of units/shares in Swiss and foreign collective investment schemes.
DLT Ecosystems deal at a certain point with the question of how best to manage their off-chain activities. The scope for design is wide because, unlike classic business ecosystems, there is no pre-existing lead company that dictates ecosystem strategy and value creation.
Many companies have to renew their applications for short-time work. The Federal Council has again decided to extend several simplifications.
Which matrimonial property law applies when a (non-Swiss) married couple moves to Switzerland? How are matrimonial goods divided in the event of one spouse’s death or a divorce? This article provides an overview of the most important questions based on a case study.
In autumn 2020, the Ordinance on Private Security Services Provided Abroad was revised.
Our magazine article introduces you to the booming application of blockchain-technology to art: Non-Fungible Tokens or NFTs. We also elaborate on secondary markets and the legal implications. You’ll learn about the key aspects to look out for from a legal, tax and compliance perspective.
On 17 December 2020, the International Bar Association (“IBA”) adopted the revised IBA Rules on the Taking of Evidence in International Arbitration (“IBA Rules”), which supersede those of 2010.
Thousands of patients already use medical cannabis. Those who are dependent on such cannabis medicines will in the future be able to obtain them more easily from doctors, as decided by the Swiss parliament in March 2021.
On 1 January 2022, the Federal Department of Finance will bring into force the amendment to the Professional Expenses Ordinance, according to which the private use of a business vehicle can be taxed with a new flat rate that also includes travel costs to the place of work.
Avobis Group AG is the new owner of VERIT Immobilien AG and taking over its locations and employees. Avobis Group is one of the largest independent managers of mortgages and real estate in Switzerland and a pioneer in the field of data-based solutions.
In difficult times as well as in good ones: We are at your disposal for any legal and tax issues relating to the current pandemic and the orders of the authorities.
The Liechtenstein insurance center grants passporting rights in all EEA states and in Switzerland.
The International Chamber of Commerce (ICC) International Court of Arbitration recorded a total of 946 new arbitration cases in 2020.
In June 2020, the SECO suspected the Zurich-based company Galika Ltd. of concealing exports that would serve Russia's armaments.
ESG: When must a CO-CSR-Report (report on non-financial matters) be submitted for the first time?
The Zug electorate approved the revision of the Zug Tax Act on March 7, 2021. We have briefly summarized the changes for you, which will come into effect retroactively as of Jan 01, 2021.
The payment of insurance premiums by a Swiss policyholder to a foreign insurer may result that the Swiss policyholder has to declare and pay stamp duty to the Swiss Federal Tax Administration.
On February 24, 2021, the Federal Council opened the consultation procedure on the federal law on tonnage tax on seagoing vessels.
economiesuisse has brought in Dr. Martin Eckert and Dr. Tamara Teves as independent ESG experts to answer legal questions in regard to "Sustainability in Business".
Dr. Bernhard F. Meyer, a founding partner of MME, has been nominated by the Swiss Confederation to serve on the World Bank's ICSID Panel of Conciliators.
Swiss income taxes are in general regulated by federal tax law (FTL) and 26 cantonal tax laws.
The new rules regarding the participation exemption in Liechtenstein came into effect on 1.1.2019. For participations that were owned by the Liechtenstein shareholder before 1.1.2019, the new provisions will apply as of 1.1.2022.
Conversations about inheritance and succession do not always have to be difficult
The following article provides a brief overview of the authorization procedure for the marketing of hand disinfectants.
The Swiss Federal Supreme Court has taken a new approach to asset deals with its recent decisions.
The revised Pharma Code and the revised Pharma Cooperation Code were adopted on 14 May 2020 and entered into force on 1 January 2021.
The planned start of consultation on the tonnage tax at the end of February 2021 represents an opportunity to increase Switzerland's competitiveness in the area of ocean shipping.
The canton of Zug proposes an amendment to the tax law to provide tax relief for the Zug population and businesses. The Zug population will decide whether to accept the bill on March 7, 2021.
MME and daura have created the first Swiss DLT register securities on February 1, 2021, at 00:00:01. Since this historic moment, the shares of MME Compliance AG are tokenized and recorded accordingly on the daura infrastructure – the digital share platform for Switzerland.
Several airlines have suspended their flights to China. British Airways is currently not flying to China and will reassess the situation on 29 February 2020. Lufthansa, Swiss and Austrian Airlines will fly to China for the last time on 31 January. After that, all flights will be temporarily suspended until 9 February 2020.
Updated Procedural Rules for .ch and .li Domain Name Disputes with a Focus on Efficiency, Costs and Environmental Impact.
In its notice of 12 January 2021, the Swiss Federal Tax Administration (FTA) has clarified its practice in connection with in-kind redemptions of Swiss and foreign investment fund units/shares.
An overview of regulatory issues to be considered when offering digital assets across borders into Switzerland.
The closing of the current business year is also accompanied by the planning of the ordinary general meeting. In this article, we explain why you should take advantage of this opportunity to subject the articles of association of your SME to a (total) revision.
As of January 1, 2021, services provided to charitable organisations are also included in the scope of services in the area of international development cooperation and humanitarian aid for VAT purposes.
In September 2020, the Swiss Parliament approved the new regulations for Blockchain and Distributed Ledger Technology (DLT Framework). Thereby, Switzerland has taken a further step to remain a key jurisdiction for FinTech, Blockchain and DLT Technologies and respective projects.
The EU Commission launched a public consultation on the introduction of a digital tax on 19 January 2021. The aim is to ensure fair taxation of the digital economy. Feedback can be submitted until 12 April 2021.
What steps need to be taken in Switzerland?
The Federal Tax Administration has updated the 2020 price lists, including 20 different crypto assets.
According to the OECD, companies and tax authorities are likewise required to take the effects of the crisis into account when preparing transfer price documentations or assessing profits.
Read in our article about changes in the field of social security and professions subject to registration in 2021.
The tax aspect of crowdfunding activities is a cause of concern for many of those concerned, as the tax consequences are not always clear.
From 1 January 2021 heirs must reimburse supplementary benefits under certain circumstances albeit the deceased individual received them legitimately during his lifetime.
With its Guidance 05/2020, FINMA recalls the already applicable legal obligation to report substantial incidents and specifies the requirements with regard to cyber attacks.
On 19 December 2020, Swissmedic granted approval for the first Covid-19 vaccine. In this context, various legal questions arise, including whether and under what conditions an obligatory vaccination is possible in Switzerland.
In October 2019, after protracted negotiations, an agreement was reached on the terms of an orderly exit of the United Kingdom from the EU as of January 31, 2020. With its "Mind the gap" strategy, the Federal Council has intended to avoid legal gaps after Brexit.
The Zurich Tax Authority is changing its practice of profit/loss allocation for Swiss companies with foreign permanent establishments for Zurich Cantonal/Communal tax purposes.
The revised Swiss procurement law came into force on 1 January 2021.
From 1 January 2021, fathers in Switzerland receive two weeks of paid paternity leave within six months of the birth of their child.
The legislative changes for withholding tax are diverse. Those changes also affect the reimbursement of Old Age and Survivors Insurance contributions. From 2021, these reimbursments will be subject to withholding tax.
In Germany, Art. 49 para. 1 no. 2 lit. f and no. 6 of the German Income Tax Act are currently discussion subjects. According to the standard's current wording, the registration of rights in Germany is sufficient to create a limited tax liability.
MME is pleased to announce that the 2021 edition of "Who's Who Legal: Arbitration" once again recognized Bernhard Meyer and Jonatan Baier in its list of "world's leading arbitration experts".
On January 31, 2020, the UK left the EU. However, a country leaving the EU is not a simple business transaction which may be executed on the “closing date”.
Since the Financial Institutions Act and the Financial Services Act entered into force on 1 January 2020, certain financial market players are now subject to a licensing or registration requirement.
In October 2020, the EUGH paved the way for reclaiming overpaid tolls from the German state.
The rejection of the Corporate Responsibility Initiative (CRI) means that the Federal Assembly's indirect counter-proposal is now being considered. This means that there is a need for action by the Boards of Directors.
Public procurement law regulates an important segment of the Swiss economy. It is based on the WTO Agreement on Government Procurement (GPA), which is implemented at federal level by the Federal Act on Government Procurement and the associated ordinance, and by the cantons by the Intercantonal Agreement on Government Procurement.
An overview of the relevant aspects of employment and data privacy law with regard to reporting and investigating grievances in the workplace.
Every month, our FinTech experts Luka Müller, Andreas Glarner and Thomas Linder discuss about the latest news in the FinTech industry.
Switzerland provides a mediation procedure to enforce the OECD Guidelines for Multinational Enterprises.
With DAC 6, the European Union (EU) aims to prevent potentially aggressive tax planning arrangements. In this context, the reporting obligation applies to all so-called intermediaries' resident in the EU. Nevertheless, Swiss companies may also be affected by the reporting obligation.
An overview of overtime. A particular focus is placed on the analysis of recent case law regarding senior executives.
As part of the release of the draft ordinance for the new DLT law, details on the new DLT / Security Token Exchange license have been published.
Between innovation and Big Brother – ICS2 is a freight prior information system. Through this system, data is collected on all goods imported into the joint security area of Switzerland, the EU and Norway before they reach the external border of the security area.
The Swiss Federal Tax Administration (SFTA) adjusts the rules for the taxation of employee shares. The changes shall ease the related taxation of start-ups and their founders.
An Additional Export Control Regime to Follow – China and the Impact of their New Export Control Laws for Swiss Companies
The International Court of Arbitration of the ICC has unveiled the 2021 ICC Rules of Arbitration which will enter into force on 1 January 2021. The amendments to the 2021 Rules mark a further step towards greater efficiency, flexibility, and transparency of the Rules.
In the course of digitalization, more and more financial service providers are offering simple and easily accessible investment platforms which can be used at any time via smart phone applications.
When DLT Service Providers build a wallet solution for digital assets or implement an existing solution into their service offering, the classification of the wallet has a decisive influence on how strictly the service provider is regulated under Swiss law.
In its meeting of 14 October 2020, the Federal Council decided not to extend the temporary measures to prevent corona-related bankruptcies.
At its meeting on 14 October 2020, the Federal Council approved an agreement between Switzerland and Peru. This creates the framework for compensating Switzerland's CO2 emissions through projects in Peru.
To prevent potentially aggressive tax planning models, the European Union (EU) has tightened the transparency and disclosure requirements for aggressive cross-border tax planning with DAC 6.
The London Court of International Arbitration (LCIA) revised its very popular Arbitration Rules.
With the emergence of so-called virtual assets, the regulatory qualification of these assets and the activities related to them is becoming increasingly important. This discussion is particularly relevant in view of the FIDLEG, which came into force on January 1, 2020.
Deep-sea ships under Swiss flag and Flagging Out
The FinSA stipulates that clients can seek a mediation procedure with a state-approved ombudsman for all disputes concerning legal claims between clients and financial service providers. For this purpose, financial service providers must join an approved ombudsman's office.
Last Friday, the Swiss Parliament approved the new regulations for Blockchain and Distributed Ledger Technology. Thereby, Switzerland has taken a further step to remain a key jurisdiction for FinTech, Blockchain and DLT Technologies and respective projects.
The Swiss foundation may seem a bit "old-fashioned" and "unfashionable" to some people. But a look at the foundation landscape shows a completely different picture. Since 2000, 51.8 % of all Swiss foundations have been established. This momentum will continue and the reasons for this are as varied as the many different areas in which Swiss foundations are active.
For more than ten years, the revision of company law has been discussed and with it the introduction of the virtual general assembly.
Regulatory hurdles in the use of artificial intelligence in financial services.
Switzerland should be able to develop further as a location for blockchain and distributed ledger technology (DLT). After the National Council, the Council of States has also approved changes to the law intended to improve the framework conditions for this industry.
The business models of multinational enterprises (MNEs) are becoming more and more complex and the service delivery processes are becoming increasingly global, integrated and digital.
Based on the groundbreaking Schrems II decision, the FDPIC concludes that the Privacy Shield CH – USA does not provide an adequate level of data protection. So, what are the challenges for companies transferring personal data to the US? Read more in our article.
FINMA’s ambitious plans to bring transparency to DLT in the fight against ML/TF comes with considerable challenges.
Just over a year ago, the Federal Supreme Court issued the landmark decision concerning the documentation of counterparties for Swiss stamp tax purposes. How did the market participants implement this decision in practice?
At the end of August 2020, the Swiss Federal Council opened the consultation process for the revision of the construction contract law.
The quarantine obligation related to the coronavirus creates challenges and raises questions for employers and employees both. We answer the most important questions concerning labour law.
Would you like to get an overview of the risk assessment of a specific country with just one click?
Digitalization has an impact on inheritance. How and to whom are crypto assets as Bitcoin and Ether bequeathed? How can the heirs' access to the crypto assets be ensured? What happens to crypto assets in case of loss of capacity of judgement?
The Financial Institutions Act ("FINIG"), which came into force on 1 January 2020, now regulates the licensing requirements and other organisational requirements for financial institutions that invest and manage third-party assets on a professional basis. An overview of the main changes, who is affected and what practical questions arise.
The conditions for the registration of ocean-going yachts under the Swiss flag are strict. We highlight the registration requirements for registering ocean-going yachts under the Swiss flag and show under which circumstances the Swiss flag at the stern of an ocean-going yacht is not only beautiful but also make sense.
The information obligations, which were implemented with the introduction of the Financial Services Act (FinSA) in accordance with the Directive on markets in financial instruments MiFID II, now include not only the prospectus but also the so-called Key Information Document (KID).
The use of international trade terms such as Incoterms® 2020 offers parties to an international trade transaction a standardized way of handling their contractual relationship.
Since 1 January 2019, casino games, lotteries, sports betting and skill games are regulated in the Money Gaming Act (“MGA”) and the Ordinance on Money Games (“MGO”). These laws generally regulate money games in which there is the chance to win a prize or other monetary advantage in return for a stake/monetary transaction to enter the game.
On 29 September 2017, the two chambers of the Swiss Parliament passed the new Swiss Money Gaming Act (‘the Act’) in a final vote. The new Act replaces the current framework that regulates casino games, betting and lotteries in
two diferent laws into a single law. One of the major changes in the Act is the abolition of the online gaming ban in Switzerland.
OFAC and Switzerland’s SECO have confirmed the relevance of crypto currencies/tokens for sanctions compliance, write Prof. Dr. Andreas Furrer, Peter Henschel and Chris Gschwend.
In Switzerland, the two specific gambling sectors (the casino sector, and the lottery and betting sector) are defined in separate legislation (the Federal Act on Games of Chance and Casinos (FGA) and the Swiss Lottery Act (SLA)).
Export control compliance professionals would be well advised to investigate the potentially significant compliance benefits that blockchain technology can offer, write Prof. Dr. Andreas Furrer, Peter Henschel and Chris Gschwend.
Switzerland has a federal legal system, whereby the law is always governed on a national level as well as on a state level.
In this paper, the author examines Smart Contracts (“SC”), statements of will and the parties' intention to create legal relations. These statements of wills are attributed to the parties who have agreed to the basic principles of a contract, but also the contracts used during the SC services.
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