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The Swiss Financial Market Supervisory Authority issues guidelines on ICOs

Following a sharp increase in the number of initial coin offerings (ICOs) taking place in Switzerland, yesterday the Swiss Financial Market Supervisory Authority (FINMA) published a series of guidelines that integrate the FINMA Guidance 04/2017,…

16.02.2018

Switzerland: revised VAT regulation and reduced VAT rate come into force

  The Swiss  Value Added Tax (VAT) rate has been reduced since January 1, 2018. In particular, the standard VAT has decreased to 7.7%, while the special VAT rate for hotels has fallen to 3.7%.…

16.02.2018

Tax Proposal 17 moves forward, dispatch to Parliament ready by the end of March

As previously reported by Goldblum and Partners, last September the Federal Council has announced a public consultation on the tax proposal 2017 (TP17). The deadline for submitting comments to the consultation was December 6, 2017. On…

07.02.2018

ICO & Blockchain Working Group Formed.

A blockchain and ICO working group has been formed by the (SIF) State Secretariat for International Financial Matters specifically tasked to overlook the legality and operational framework of ICO and blockchain in regards to their…

25.01.2018

Newly released FINMA regulations for Swiss banks, securities and insurance providers.

Beginning on April 1, 2018, FINMA (The Swiss Financial Market Supervisory Authority) will begin enforcing a number of new regulations on Banks and Insurance companies. Officially the 2018/03 Outsourcing – Banks and Insurance Companies, the…

23.01.2018

Zug Commercial Registry Office accepts Bitcoin and Ether as means of payment

As of 2 November 2017, fees can be paid at the Zug Commercial Registry Office (Switzerland) with the cryptocurrencies Bitcoin and Ether. Cryptocurrencies are money in the form of digital means of payment. The principles…

06.11.2017

Draft Guidance on penalties for enablers of defeated tax avoidance published

The British HM Revenue and Customs (HMRC) has published draft guidance on penalties for enablers of defeated tax avoidance. The Guidance describes the legislation in Schedule 16 Finance (No. 2) [Act] 2017 (as amended), which…

31.10.2017

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.…

18.10.2017

Commercial Register of Canton Zug permits cryptocurrencies as contributions in kind

Cryptocurrencies have been steadily gaining in importance in the recent years, especially bitcoin as the most famous of all cryptocurrencies. The Swiss city of Zug was the first state authority worldwide to accept bitcoin as…

16.10.2017

Switzerland signs European declaration on eGovernment

On Friday, 6 October 2017, a declaration on eGovernment jointly drawn up by the EU and EFTA in the context of the Ministerial eGovernment Conference in Estonia was signed by the Swiss Federal Councillor. The…

12.10.2017