Category Taxation in Switzerland

Switzerland Accepting BitCoin for Taxes

September 11, 2017 Taxation in Switzerland

tax payments via bitcoinGENEVA – Two local governments in Switzerland now accepts tax payments via BitCoin.

Last week the Swiss municipality of Chiasso announced that next year it will begin accepting tax payments via BitCoin.

From January 2019 onward, tax bills of up to CHF 250 will be payable with cryptocurrency.

If the initial trial for the payment proves to be successful, the system will be expanded to accept larger amounts.

The move to accept cryptocurrency comes as an effort to compensate for the tax revenues being lost due to the diminishing local banking sector, and also in order to solidify the local cryptocurrency industry.

The local government has reputedly made significant efforts to establish the region as a prime location to base a cryptocurrency start-up.

Chiasso is not the first part of Switzerlan...

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Swiss Voters Reject Inheritance tax

June 15, 2015 Taxation in Switzerland

BERN – Swiss voters have overwhelmingly rejected a new tax proposal which is believed to pose a significant risk to small businesses.

In a vote held on June 14th taxpayers rejected a proposal to implement a new comprehensive inheritance tax in the country.

Currently the regulations regarding the taxation of inheritance vary in each canton, and under present regulations, only four cantons have rules to impose a taxes on wealth received as inheritance from a parent.

Had the proposal been passed, an inheritance tax of 20 percent would have been imposed on the transfer of wealth of more than CHF 2 million.

The proposal was rejected with 71 percent of voters voting against it.

The proposal was rejected by any taxpayers as it is believed that it would prove to be a significant financial burde...

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Switzerland Could Hike Carbon Taxes

July 15, 2014 Taxation in Switzerland

BERN – Switzerland is warning energy companies to lower their emissions by the end of the year or face a tax hike in 2016.

Carbon taxes in Switzerland may be raised in 2016 by as much as 40 percent above the current level unless the national energy sector can reduce their emissions to an acceptable level by the end of the current year, according to information in a new statement issued on July 14th by the Federal Office of the Environment.

The possible tax hikes will be based on how much the emissions from the national energy sector can be cut in comparison to the emissions levels seen in 1990.

No tax hikes will be instated if emissions fall at least 24 percent below the levels seen in 1990, while a reduction of between 22 and 24 percent will see taxes raised from the CHF 60 per ton of ...

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Switzerland Proposes Data Sharing Framework

July 8, 2013 Taxation in SwitzerlandTaxation in USA

Swiss BanksBERN – Banks in Switzerland may soon have a system of sharing data during tax investigations by the USA, thanks to a new framework being proposed by the government.

On June 3rd the Federal Council of Switzerland unveiled new protocols for solving information sharing disputes between financial institutions in Switzerland and the tax authorities in the USA, without compromising the country’s infamous bank-secrecy rules and still staying “…within the scope of existing law and particularly data protection and employment law provisions”.

The Council stated that Swiss banks may apply to the national government for permission to provide US tax authorities with limited information about clients’ bank accounts, but the passed information may not contain the name or particulars of the customer, ...

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Whistleblower Sells Tax Info to Germany

April 17, 2013 Taxation in GermanyTaxation in Switzerland

CDMAINZ – Tax authorities in Germany has once again taken the controversial step of purchasing information from a whistleblower to be used as an extra tool in its fight against tax evasion.

The homes of more than 200 alleged tax evaders in Germany have recently been raided by tax authorities after new evidence of tax crimes was detailed by a whistleblower, according to a statement made by  the finance minister of the German state Rhineland-Palatinate Carsten Kuehl on April 16th.

The Minister explained that the state paid approximately EUR 4 million for a for a CD containing “authentic and excellent quality” information on over 10 000 clients of Swiss banks.

The identity of the whistleblower was not revealed, and no information was provided on how much of the data directly revolved around Ge...

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