CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Swiss Tax Transparency Changes Enter Into Force

Swiss Tax Transparency Changes Enter Into Force

by Ulrika Lomas, Tax-News.com, Brussels

08 November 2019


Switzerland has published guidance, in German, French, and Italian, on changes to domestic law to adopt the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The legislative changes entered into force on November 1, 2019. They include that the issuance of bearer shares will be permitted only if a company has equity securities listed on a stock exchange or its shares are structured as intermediated securities. Impermissible bearer shares will be converted into registered shares by law on May 1, 2021.

Shareholders who have not complied with their reporting duty and whose shares have been converted may apply to the courts for entry in the company's share register within five years of the act coming into force. Shares held by non-registered shareholders will become void on November 1, 2024.

Other changes are intended to ensure transparency concerning the beneficial owners of legal entities, including new penalties for non-compliance and record-keeping rules.

Legal entities headquartered abroad with effective administration in Switzerland are now obligated to keep a register of their owners at the effective place of administration.

The Swiss Government expects that around 57,000 companies will be affected by the changes.

TAGS: law | legislation | transfer pricing | Switzerland | Tax | BEPS

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »