The abolishment of the bond withholding tax and the reduction of the transfer stamp duty were both rejected by the Swiss people today.
Swiss law firm Homburger reports that domestic bond issues are still subject to withholding tax. As a result, the transfer limitations in syndicated loan agreements (also known as the “10 and 20 non-bank regulations”) and the limitations on the use of proceeds from bonds issued abroad by Swiss organizations continue to be applicable.
Domestic bond trading continues to be subject to the 0.15% turnover tax. The same holds true for buying and selling qualified domestic and international participations.
For further information please contact Homburger partner Stefan Oesterhelt.
Tax law, particularly international tax law, mergers and acquisitions, capital market transactions, and tax litigation are the main areas of concentration for Stefan Oesterhelt’s practice. He teaches tax law at the University of Sankt Gallen and frequently presents on the subject at seminaries.
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