Dear Clients,
With these few lines, we request your precious time to remind you of the main legislative
changes that await us from January 2020 moving forward.
We are also taking this opportunity to inform you of our address changes:
- Headquarters in Geneva:
Place du Molard 7 – 1204 Genève
- Zug Branch:
Bahnhofstrasse 32 – 6300 Zug
PAYROLL
- Following the votes of the RIE3, a slight increase of 0.30% in the AVS contribution will impact wages. This increase will be financed equally by the employee and the employer, ie 0.15% each.
- In the Canton of Geneva, there is now an employer contribution to Early Childhood of 0.07% of wages funded by the employer.
- The association's committee for the guarantee of future pensions has decided to increase the repair premium. Consequently, the accident insurance premium (professional and nonprofessional) will increase by around 5 thousandths, i.e. 0.3% employee and 0.2%
CORPORATE TAX
- The main change expected in 2020 is the change in income taxes. This tax will decrease to 13.99% (Canton and federal, formerly 24.5%) on the canton of Geneva.
PRIVATE TAX
- Persons subject to source tax and resident in Switzerland must obligatorily complete a tax declaration if their annual income exceeds CHF 120,000 from year 2021.
- In 2020, the deduction of premiums paid to 3rd pillar A is maintained to CHF 6,826.-. It can be paid as early as January for those who have a bank 3A.
BEARER SHARES
- By April 30, 2021, all stock companies (SA) that have issued bearer shares will have to convert them into registered shares and amend their by-law. After this date, the commercial register will make the modification, subject to the temporary forfeiture of the rights of the shareholders
MONEY LAUNDERING ACT (AML)
- Independent asset managers and Trustee will have to file a request with FINMA and affiliate to a mediation body before June 30, 2020. Financial intermediaries who renounce to pursue this type of activity will have to adapt their status if necessary.
VOTE OF THANKS!
Last but not least, we thank you for your loyalty demonstrated throughout 2019 and remain at your disposal to support you in your projects in 2020.
Add new comment