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tax Cross-border E-Commerce
The Swiss market is attractive for foreign e-commerce retailers, as it attracts high turnover. Products typically offered online to consumers (B2C) are textiles, shoes, cosmetics and beauty, food and household appliances, home electronics, furniture, books and much more. Online trading also plays a certain role in B2B transactions. The products traded depend on the respective industry.
tax New Head of Corporate Tax in Geneva/Lausanne
From January 2020, Grant Thornton Switzerland/Liechtenstein will strengthen its tax resources in western Switzerland as Markus Hertel will become the senior partner for business clients in the region and will further expand and develop this service line. After graduating as a tax expert in 2002, Markus Hertel successfully held a number of management positions in several tax consulting firms, many years of which at a Big4 in western Switzerland. His work focuses on international corporate tax law, reorganisa-tions and M&A transactions.
Audit/Advisory Financial Services FINIG and FIDLEG
On 1 January 2020, the Financial Institutions Act (FINIG) and the Financial Services Act (FIDLEG) will enter into force. They are specified by ordinances, published by the Federal Council on 6 November 2019. For the implementation of the new requirements that will apply to asset managers, there are various transition periods. We are happy to support you efficiently to implement the new regulatory requirements.
Legal Services Reporting obligations and the abolition of bearer shares
Since the implementation of the rules set out by the Groupe d’action financière (GAFI) in 2015, Swiss law provides for an obligation to notify the purchasers or holders of bearer shares and the beneficial owners of a company. These reporting obligations have recently been tightened. In addition, it has been decided that most companies will no longer be able to issue bearer shares. These new, stricter regulations are in force since 1 November 2019.
tax The challenge of taxing digital business
The Organisation for Economic Co-operation and Development's (OECD'S) latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy note by proposing a modified residual profit split with benchmarking of routine profits. The G20 finance ministers subsequently welcomed progress and reaffirmed their commitment to seeking a consensus-based solution by the end of 2020.
Audit Industries New head of the “Audit Industries” department
As of 1 November 2019, a new partner at Grant Thornton Switzerland/Liechtenstein, Dr. Shqiponja Isufi, will take over the management of the “Audit Industries” department from Erich Bucher, CEO and former head of the department. Dr. Shqiponja Isufi worked as an auditor for a large audit and advisory company (Big 4) as of 2011 where she was responsible for auditing consolidated and annual financial statements of renowned international and listed companies. As head of the annual internal training and development in the Audit department, she assumed additional responsi-bility in 2015 for ensuring the audit quality and qualification of employees.
Audit The «Business Risk Analyst»
The internal auditor has a very specific and often relatively isolated role within the company. He is very close to the board of directors and management and yet not part of them. Digitalisation is also creating new challenges for risk management - companies need to be more vigilant than ever. While business remains the same, individual processes are becoming increasingly dependent on data and its in-depth analysis. It is thus clear that the career profile of an “internal auditor” will change to being that of a “business risk analyst”.
tax A no-deal Brexit
With less than two months to go before 31 October, it seems ever likely that, should the UK leave the EU, it will be without a deal with the European Union. It is still possible that a deal may be agreed or that BREXIT day may be postponed further but both Government and business should be prepared for an imminent ‘no-deal’ departure. This Briefing Paper provides insight into the latest VAT and Customs developments for both importers and exporters in a ‘no-deal’ scenario.
Sponsoring Gold sponsor of FinTech Liechtenstein 2019
The conference will take place for the fifth time on Wednesday, 23 October 2019 at the SAL in Schaan and has the theme “Finance meets future”. The event was founded 5 years ago by the three students David Meyer, Sina Reubelt and Tobias Fitz of the University of Liechtenstein and has since developed into an important knowledge sharing and networking platform for the Liechtenstein financial market. In addition to interesting presentations, visitors can also look forward to inspiring workshops, which focus on the current topics and needs of the local financial sector.