All articles by Dr. iur. Markus Kaufmann

On 26 March 2020, as a result of the Coronavirus the Ordinance on the Grant of Loans and Joint and Several Loan Guarantees (COVID-19 Ordinance on Joint and Several Loan Guarantees) entered into force. According to this Ordinance, businesses are to be provided with sufficient liquidity through bridging loans in order to be able to cover their fixed costs, despite the revenue losses caused by the Coronavirus. Alongside the measures relating to reduced working hours and COVID loss of earnings compensation in order to cover salary costs, which have already approved by the Federal Council, these additional measures offer a comprehensive package of measures to avert the economic consequences of the Coronavirus pandemic.

Various changes to federal legislation will enter into force on 1 January / 1 July 2020. Below is a selection of the most important changes which we have summarised for you.

In 2015 Switzerland implemented the recommendations of the Groupe d'action financière (GAFI), which have led to the introduction of enhanced transparency requirements and reporting duties. On 21 June 2019 the Parliament approved the Swiss Federal Act on the Implementation of Recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes. After the referendum deadline expired unused on 10 October 2019, the Act will enter into force on 1 November 2019. The new Act will further enhance transparency requirements with the aim of enabling Switzerland to pass the next national examination carried out by the Global Forum with flying colours.

The choice for the most suitable type of enterprise for a commercial undertaking in Switzerland is of great importance. Regarding liability and taxes, limited liability companies will be on the fore, at present as well as after the current amendments.