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Swiss Tax Consequences of Currency Conversions

July 2010 - Tax & Private Client. Legal Developments by Walder Wyss Ltd.

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The Swiss Federal Supreme Court recently held that variances resulting from the conversion of the statutory accounts from a foreign functional currency into Swiss francs must be accounted for in the shareholders' equity account, a result consistent with International Financial Reporting Standards (IFRS). This NewsLetter discusses tax issues and other consequences of this decision.

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