New QI & FATCA FAQs published by the IRS

Last week, the U.S. Internal Revenue Service published various new FAQs on their website. We set out in this article the implications of these new FAQs for Swiss financial institutions.

Don’t forget to claim back Swiss VAT

Businesses without a Swiss establishment or VAT registration still have until the end of June 2020 to file their refund claim for Swiss VAT incurred in 2019. Please note that the deadline for any VAT refund claim remains 30 June 2020. The deadline cannot be extended, even in the current COVID-19 circumstances.

Swiss pension funds: New withholding tax exemption in India for infrastructure investments

Until recently, the Indian market has not been particularly attractive for Swiss pension funds to make investments, due primarily to the tax leakage suffered in India on the generated returns. As a result, India has been very low on the target investment list of Swiss pension funds for some time.

Extension of Time to File FATCA Reporting (Form 8966)

In response to the COVID-19 virus, the U.S. Internal Revenue Service (IRS) has granted an automatic extension of time for Reporting Model 2 and Participating FFIs to file their FATCA reporting (Form 8966) to the IRS.

UK Budget 2020: Impact for Switzerland?

On 11 March 2020, the UK Chancellor delivered his first Budget of the post-Brexit era. Important tax changes were anticipated, but did not really materialize. We discuss the announced UK tax changes – and the potential impact for Switzerland.

Tax transparency for family offices, trustees and fiduciaries

Our recently completed KPMG tax transparency event series highlighted the extensive new requirements in the field of tax transparency, with a particular focus on the challenges for family offices, trustees and fiduciaries. Stefan Keglmaier summarizes the most important takeaways of our session.