So, 52% of the British have voted to leave the EU yesterday, sending shockwaves around the world. What now? This article provides a snapshot of what could be the future from an indirect tax perspective.
On June 14th 2016 the National Council followed the position of the Council of States and a final decision on CTR III was taken. The reform underlines the aim to strengthen Switzerland as a business location, focusing on innovation, value creation and jobs. The law provisions passed are compatible with the current international standards.
Life science companies have to future-proof their value chain by placing functions, assets and risks in locations where they are planning to have their profits taxed. Structures where profit allocations are made in tax-beneficent locations with little or no substance are no longer viable.