Switzerland

EBA Outsourcing Guidelines: Swiss banks also affected

The revised FINMA circular 2018/3 “Outsourcing - Banks” has now been in effect for nearly a year. Experience has shown that institutions are having a hard time particularly with the risk-oriented monitoring of their outsourcing providers (including any sub-contractors these may have hired).

Swiss family businesses focusing on innovation and recruitment

The latest issue of the European Family Business Barometer, a joint annual publication by European Family Businesses and KPMG, reveals a promising development for family businesses in Switzerland: Half of the survey’s respondents felt either positive or very positive about the next twelve months.

Geneva – an important step towards the tax reform

On 31 January 2019, the Grand Council of Geneva adopted the cantonal project for the implementation of the Federal Act on Tax Reform and AVS Financing (TRAF). It introduces minor changes compared to the initial project and confirms the massive decrease of the corporate income tax rate to 13.99%.
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Swiss immigration – beware of new language requirements!

Effective 1 January 2019 the revised Swiss Federal Act on Foreign Nationals and Integration (FNIA) was enacted. One of the most remarkable changes is the new language requirement for work and residence permits.
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Brexit and Switzerland: 10 employment & immigration considerations

As the UK’s EU departure deadline draws closer, there are still many open questions. Switzerland and the UK provide for more certainty in a bilateral citizens’ rights agreement, however. We explore 10 aspects of employment and immigration in a post-Brexit environment.
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Basel-Stadt votes yes to tax reform and remains tax-attractive

On 10 February 2019, the Basel-Stadt electorate voted by a large majority of 78.8% to adopt the "Basel compromise on tax proposal 17". The canton is proactively implementing the harmonization provisions of the Federal Act on Tax Reform and AHV Financing (TRAF).
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