Switzerland:
Update Regarding The Reform Of Swiss Corporate Tax
16 December 1997
Pricewaterhouse Coopers
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PLEASE NOTE: THIS ARTICLE WAS ORIGINALLY SUBMITTED BY REVISUISSE PRICE WATERHOUSE, SWITZERLAND
Regarding the stamp tax amendments, the Swiss federal government decided to move the date of entry into force from January 1 to April 1, 1998.
This signifies that corporations planning to increase their share capital up to or over SFr 250'000 should wait until April 1, 1998 in order to profit from the reduced 1% stamp duty rate. If you plan to establish a new corporation in Switzerland, aim to stay within the stamp duty exempt SFr 250'000 limit and increase the share capital on or after April 1, 1998.
The postponement of the entry into force of the revised stamp duty law also applies to the new regulation regarding certain redeemable life insurances financed with lump sum premiums.
Apart from the stamp duty law revisions mentioned above, all other changes effected by the corporate tax reform will enter into force as announced in our previous article on January 1, 1998.
The content of this article is intended to provide a general guideline to the subject matter. Specialist advice should be sought about your specific circumstances.
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