The Legal 500

In Le Temps, the daily newspaper of reference of Western Switzerland, Yves de Coulon analyses the latest developments in the field of planning and zoning: Weber Initiative, Landscape Initiative, recent modifications of the Federal Law on planning and zoning, what consequences on the cantons' autonomy in the area of planning and zoning?

The head of our tax practice group, partner Dominique Christin, summarises the legal requirements to obtain a lump sum taxation status in Switzerland and in the cantons of Geneva and Vaud.

Michel Jaccard (TMT|IP, Corporate) lists in the Bilan magazine the 10 challenges in 2012 for the media and technology industries.

The European Commission adopted on October 20 its draft proposal for a Directive on markets in financial instruments (MIFID II) repealing Directive 2004/39/EC, which surprisingly remained almost uncommented in Switzerland so far.

Bern, 05.08.2011 - The double taxation agreement (DTA) with Georgia in the area of taxes on income and capital has entered into force. There was no DTA between Switzerland and Georgia previously, and the new DTA should contribute to the further positive development of bilateral economic relations.

By MATTHEW SALTMARSH

LONDON -- Switzerland is close to signing sweeping tax treaties with Germany and Britain intended to ensure that assets belonging to citizens of those countries held in Swiss banks will no longer escape tax.

Switzerland and Spain sign revised double taxation agreement

Berne, 27.07.2011 - Today in Madrid, Switzerland and Spain signed the protocol to amend the double taxation agreement (DTA) in the area of taxes on income and capital. The revision will contribute to the further positive development of bilateral economic relations. The revised DTA also contains provisions on the exchange of information in line with the internationally applicable standards.

A decedent estate cannot be addressee of a data transfer decision, Federal Administrative Court

The conditions must be fulfilled for each account individually, Federal Administrative Court

The plaintiff beneficially held one UBS bank account through a company and another UBS bank account through a foundation. 

Berne, 06.07.2011 - Today, the Federal Council took note of the result of the consultation procedure and adopted the dispatch on the new Federal Act on International Administrative Assistance in Tax Matters.

- bank account held through a Liechtenstein foundation, Federal Administrative Court

The plaintiff argued that the UBS Agreement was not applicable because she does not beneficially own the bank account of the Liechtenstein foundation.

The plaintiff raised a number a fundamental rights and prohibition of retroactivities that had already been considered and rejected by the Federal Court in other UBS matters. The right to keep silent and not incriminate oneself (art 14 § 3 litt g UNO Pact II and art 6 ECHR) are not applicable to international assistance procedures.

The data transfer in dispute had already been refused by the FTA in a former decision, Federal Administrative Court

Switzerland first success at peer review

Suite à un arrêt récent du Tribunal fédéral, la FINMA est contrainte de revoir son interprétation de la notion d’appel au public au sens de la LPCC.

Following a recent decision the Federal Court, FINMA is constrained to review its interpretation the notion of call the public at of CISA. 

Dominique Christin addresses the tax trap if extraordinary contributions have been made during the last 3 years. The article criticizes the recent case-law of the Supreme Court which may have consequences contradictory with the spirit and purpose of the law.

The Swiss Financial Market Supervisory Authority (Finma) recently issued its report for enhancing the protection of investors in connection with the distribution of financial products in Switzlerand ("Vertriebsbericht 2010"). 

Les monnaies concernées se situent au-dessous des sommets d’avant-crise. Contrairement à l’opinion répandue. Alors pourquoi tant de propos sur leur prétendues surévaluation?

Thierry Amy assesses for the AGEFI, one of the authoritative financial newspapers in Western Switzerland, a recent controversial judgment of the Federal Tribunal broadening the material scope of the Collective Investment Schemes Act (CISA), judgment which seems to confirm an extensive construction of CISA's scope and thus to grant an increased power to FINMA, and whose validity is worth discussing. 

Under Swiss law, “banks” shall cover all institutions that accept deposits from the public on a professional basis or solicit these publicly in order to finance in any way, for their own account, an undefined number of unrelated persons or enterprises, with which they form no economic unit, or who refinance themselves in substantial amounts from a number of banks which are not significant shareholders and with which they form no economic entity in order to provide any form of financing for their own account to an undefined number of unrelated persons or institutions.

At the occasion of the Annual Congress of the International Association of Lawyers (UIA), one of the largest worldwide organisations of lawyers, which will take place in Istanbul from October 30 to November 3, Dominique Christin and Thomas Goossens participate as speakers to the joint session of the banking and corporate law commissions on the advantages and pitfalls of share call and put options.

Michel Jaccard will be a speaker at the 3rd edition of the European Open Source & Free Software Law Event (EOLE), which will be held in Torino, Italy.

At the occasion of the Annual Congress of the International Association of Lawyers (UIA), one of the largest worldwide organisations of lawyers, which will take place in Istanbul from October 30 to November 3, Dominique Christin and Thomas Goossens participate as speakers to the joint session of the banking and corporate law commissions on the advantages and pitfalls of share call and put options.

Given their greater visibility and liquidity, managed accounts have recently been praised by an increasing number of players in the alternative investment industry to rebuild confidence of the investors in the aftermath of the 2008 financial crisis and of the Madoff saga.  

At the occasion of the Annual Congress of the International Association of Lawyers (UIA), one of the largest worldwide organisations of lawyers, which will take place in Istanbul from October 30 to November 3, Dominique Christin and Thomas Goossens participate as speakers to the joint session of the banking and corporate law commissions on the advantages and pitfalls of share call and put options.