Corporate Tax 2021

OVERVIEW OF CORPORATE TAX WORK OVER THE LAST YEAR

Types of corporate tax work

M&A

In comparison to 2019, which reported a transaction value amounting to USD 127bn, 2020 was quite an unusual year due to the global pandemic accompanied by the uncertainty of the economic impact caused by COVID-19. As such, the uncertainty and the waves of the pandemic emerging globally resulted in a significant drop of total deal value by around 50% to approx. USD 56bn. Almost three-quarters of that amount was attributable to the 10 largest mergers and acquisitions (M&A). These were driven primarily by the two largest transactions in terms of deal value, the public takeover of Sunrise Communications AG, the second-largest telecommunications provider in Switzerland after Swisscom, and the acquisition of CPA Global Limited, a leader in the development of intellectual property and legal support services. Notably, Swiss companies acquired significantly more foreign companies than vice