Insights

VAT is first and foremost a tax and contributes to the financing of government tasks. On closer inspection, however, certain procedures and precautions in the field of VAT have a positive effect on the available liquidity by reducing unnecessary liquidity commitment from a business management point of view. The notification procedure for import tax is used to illustrate the effect of certain VAT arrangements.

In 2018, the Swiss Parliament passed an amendment to the Gender Equality Act (GEA) that requires companies with 100 or more employees to conduct a pay equity analysis. The revised GEA went into effect on 1 July 2020. This pay equity analysis must be carried out by the end of June 2021 at the latest and reviewed by an independent body within a year.

The Covid-19 pandemic still has a firm grip on the world. Vaccinations are now supposed to protect people from the virus and enable them to return to "normal life" as soon as possible. From a labor law perspective, this raises various questions, such as the subject of mandatory vaccination for company employees or how to deal with the granting of special rights for vaccinated people. As an employer, what should you watch out for in relation to vaccination against the corona virus?

The Financial Institutions Act (FinIA) and the Financial Services Act (FinSa) entered into force on 1 January 2020. These laws are specified by specific ordinances published by the Federal Council on 6 November 2019. Various transitional periods are provided for the implementation of the new requirements for asset managers. What do you as an asset manager need to bear in mind?

Cross-border e-commerce: Tax-efficient and customer-friendly delivery process to Switzerland A VAT guide to cross-border e-commerce for foreign web shops

The beginning of the year is an occasion for many people to clean out and tidy up everything. From a tax perspective, a "spring clean" should also be done regularly with holdings and asset structures. 2021 is the ideal time to review existing structures and, if necessary, take appropriate measures to minimize tax risks, as this year offers special opportunities for this. But why is an in-depth analysis of these structures and the implementation of a tax health check worthwhile? In their article, Martina Benedetter and Nicolai Fischli explain the various tax optimization opportunities and how best to take advantage of them.

Expertise, experience, leadership skills and agile adaptation to new technologies are the ideal prerequisites of a successful auditor. Due to the trend of digitalization, which was once again significantly strengthened by the coronavirus pandemic, the expectations of auditing have increased. Thanks to today's new technologies, complex processes of the annually recurring audit of financial statements can be simplified. But what are the prerequisites that an auditor must have today and in the future in order to also make targeted use of digital topics such as “big data”, artificial intelligence and, not least, gamification approaches? So are computer scientists the new auditors? In her article, Dr. Shqiponja Isufi explained what the ideal profile of an auditor is and why the profession will become even more attractive in the future.

The Swiss Federal Council adopted the revised withholding tax law in December 2016. This reform contains various adjustments that are relevant to you as an employer. All changes will enter into force on Friday, 1 January 2021. In this fact sheet, we would like to provide you with information about the most important points of this revision.

The COVID-19 global pandemic has resulted in economic consequences that many reporting entities may not have had to previously consider. One of those consequences is their ability to repay loans. In response, some lenders have agreed to changing the borrowing terms or providing waivers or modifications to debt covenant arrangements. Any changes to the terms of loan agreements, for example providing any kind of payment holidays on either principal or interest or changing interest rates, should be carefully assessed.

The digital transformation poses a challenge for trustees. In the medium term, certain traditional business sectors will simply disappear. At the same time, digital technologies are also bringing about new business opportunities. Nonetheless, “digitalisation” remains a buzzword that sounds urgent but leaves most small and medium-sized trust companies at a loss. There are often no answers to the question of how the process of digitalisation can be shaped in concrete terms in the everyday operation of a business. Grant Thornton Switzerland/Liechtenstein offers tools and strategic consulting that help you move forward in the area of digital transformation in a manner that is structured, targeted and a precise fit for your company.

Measures to help stop the spread of the COVID-19 virus during the pandemic have forced many workers in Liechtenstein and Switzerland to work from home if possible. Due to this development, on 22 October 2020, both countries signed an agreement to determine the effects of the COVID-19 measures on cross-border commuters by mutual agreement.

The constitutional right to equal pay for work of equal value was enshrined in law by the Federal Act on Equal Opportunities for Women and Men (EOA) , which came into force on 1 July 1996. On 14 December 2018, parliament passed an amendment to the Equal Opportunities Act effective 1 July 2020. This amendment requires companies with 100 or more employees to carry out a wage equality analysis, which must be verified by an independent specialist. However, due to a so-called ‘sunset’ clause, the provisions automatically cease to apply on 1 July 2032.

The coronavirus crisis has hit the global economy to an unprecedented degree, with many companies facing the prospect of having to make drastic changes to their business models. New challenges have arisen and are now affecting several points, many of them crucial, along the entire value chain. From the insecurity and shortages faced by suppliers to struggling, unstable markets and surpluses in personnel – not to mention the sudden, tight restrictions on mobility – very few areas have escaped the effects of the pandemic.

After decades of preparation and time-consuming negotiations, on 19 June 2020, the Federal Parliament finally agreed upon the long-planned reform of the law on companies limited by shares. This revision will come into effect on 1 January 2022. Companies have two years from this date to amend their articles of incorporation accordingly. What are the most important changes to the law on companies limited by shares?

If the widespread impact of COVID-19 began during the entity’s reporting period, the impact will be reflected in its financial statements for that period. However, to the extent that the widespread impact of COVID-19 occurred during the entity’s ‘subsequent events period’ (ie the period between the end of the reporting period and the date when the financial statements are authorised for issue), management must determine how material developments after the year-end should be reflected in the entity’s financial statements for the period under audit or review.

As a response to the COVID-19 global pandemic, governments around the world are implementing measures to help businesses and economies get through it. The nature of government grants can take on various forms such as below market rate loans, short-time working subsidies, relief funds, income-based tax credits to name just a few.