On July 3, 2023, the Geneva tax authorities (GTA) published on their website an amendment to the way in which they tax management incentive plans. The new amendment increases the scope for beneficiaries of management incentive plans to receive benefits in a more tax efficient way. The principle until now has been that when a manager receives shares from his or her employer, tax is applied to the grant, while when the shares are sold any gain is considered to be a tax-free capital gain. But this, now former practice of the GTA in relation to shares of non-quoted companies, limited the amount o ..read more

The events in the last few years have had significant and lasting impacts on business in general and restructuring in particular, with the latter referring to the various options available for firms experiencing difficulties. European economies, hit by both the upheavals caused by the health crisis and geopolitical tensions, have also been affected by the various support policies adopted by governments. During this period, the construction of insolvency regimes across Member States has evolved towards an increasingly integrated Europe. The most significant development since the last edition o ..read more

In accordance with its legislative programme, the Vaud State Council is submitting to the Grand Council a number of adjustments to the taxation of individuals and legal entities. With regard to individuals, the State Council is submitting to the Grand Council a bill to reduce cantonal personal income tax by 2.5% from 2024. For legal entities, the State Council is proposing that the Grand Council make a number of adjustments to the law on direct cantonal taxes, notably with respect to the tax rate and the taxation of hidden reserves. It also announces a package of measures aimed at guaranteein ..read more

How successful is your organisation at attracting young workers? How successful are you at retaining them? In a highly competitive labour market, hiring and retention of young talent is a vital component of success. Deloitte’s survey of Swiss Gen Z and Millennials explores their desires and motivations, what they are looking for from employers, and what causes them to leave. Some of the survey’s results are perhaps surprising. Pay and status are not young employees’ main motivation. Young workers are idealistic and want to retain their own identity, friends and hobbies while sharing a sense ..read more

On 16 June 2023 the Swiss parliament approved the partial revision of the VAT law which includes significant changes entering into force as of 2025. On the same date, the Federal Council decided to amend the Swiss VAT Ordinance to enforce registration as well as settlements for VAT to be carried out exclusively electronically. Partial revision of the Swiss VAT Law The main changes included in the partial revision of the Swiss VAT Law approved by the Parliament and applicable as from 2025 are the following: All electronic platforms (i.e., electronic interfaces enabling direct interactions bet ..read more

Adobe Acrobat Sign is a document cloud solution that helps organisations deliver end-to-end digital document experiences with trusted, legal electronic signatures. Deloitte is a strategic global Alliance Partner to Adobe, with over 25 years of experience working with Adobe as a customer, supplier and partner, and a long history of collaboration on product strategy and direction. Deloitte Legal and Adobe have formed a strategic alliance to support clients in the roll-out and adoption of Adobe Acrobat Sign – both locally and globally. Adobe provides the technology and strategic implementation f ..read more

In the popular vote on 18 June 2023, Swiss voters approved the most extensive change to the Swiss corporate tax system in over a century with a wide majority. With the amendment of the Swiss constitution the Swiss voters have paved the way for the Swiss legislator to introduce the global minimum tax (also referred to as “Pillar II”) in Switzerland. Pillar II introduces an additional layer of taxation (tax law) to Swiss constituent entities of multinational enterprises in scope of the rules and introduces a corporate group taxation system in Switzerland with a mandatory tax of 15% that is det ..read more

Overview As the first quarter of the year has passed it is timely to take a detailed look at the Swiss immigration statistics. The federal authorities regularly publish statistics on the exhaustion of Swiss immigration quotas. For Swiss employers it is important to know that certain permit types are subject to quotas and that these are limited in number, depending on the future employee’s nationality and type of employment in Switzerland. The quotas are released on a yearly or quarterly basis and are distributed among the cantons and the federal authorities. In this blog we examine the number ..read more

Created at the end of the 18th century, the Municipal Business Tax (“MBT”) (Taxe Professionnelle Communale) is only levied by the municipalities of the canton of Geneva and covers the gainful commercial activity of legal entities and individuals carried on in the canton. The MBT is assessed on entities' annual gross revenues, rents and number of employees. The tax rates are as follows: Turnover and any other income: the tax rate depends on the activity carried on by the company, as well as the nature of the other income. Some favourable regime are applicable to companies fulfilling certain c ..read more

  We would like to invite you to join our 2023 US Inbound Breakfast Seminar at our Zurich office on Wednesday, 10 May at 08.30am (CET), where you will gain insight on developments in US inbound investments from Deloitte US & Global Business Alliance CEO, Nancy McLernon.   We will discuss the latest trends in inbound investments including key factors international companies should consider, including:  US economic trends  US public opinion on globalization 2023 policy outlook: What Swiss companies need to know  Considerations for impact of evolving international ..read more