Accounting principles for virtual currencies in Switzerland, regarding the blockchain technology, categories of tokens and the incorporation of companies using cryptocurrencies as capital contributions.
The new laws, FinSA and FinIA, regarding financial intermediaries in Switzerland will come into force during 2019-2020. Changes included in the new laws will mainly affect independent asset managers and trustees, but auditing requirements will also be more simplified for certain types of companies.
For the first time in Switzerland, one of the cantons will introduce an hourly minimum wage, following a decision of the Swiss Federal Court. This measure will come into force in the canton of Neufchatel, although it has been disputed by managers and economic organizations.
On the 1st of June, the Federal Steering Committee announced its proposals for a new tax regulation 2017, i.e. the Swiss corporate tax reform, that will implement a standard corporate tax rate of approximately 12 percent, without any significant financial losses for the canton of Zug, municipalities, companies and private individuals so that the tax burden will not be shifted to private tax payers. This aims to make Switzerland’s tax system acceptable again on an international level and to revoke the tax privileges granted to certain internationally operating companies.
The Head of the Department of Finance, Heinz Tännler, supports the proposals by the Federal Steering Committee for the new tax regulation 2017. He feels encouraged regarding the cornerstones for Zug’s corporate tax law reform.
The German competition law may also apply to foreign companies: when a company advertises with the domain name .de, German competition law applies.