At the end of September, the Swiss government announced its commitment to phasing out so-called Bearer Shares. From the 1st November, the Federal Act on the Implementation of Recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes comes into effect. This is in line with the requirements of the European Union.
Two weeks later, the EU removed Switzerland from the grey list of “countries with concerning tax practices” and placed it on the White List of compliant jurisdictions.
Please click here to read the full article on the SFM Corporate Services website.