The advantage for a company of making provisions is that disclosed profit can then be reduced, and shareholders receive fewer dividends for distribution. This allows the company to keep money internally for its own growth. These reserves can then be used should the company come across a difficult year when this provision can be released. […]
Most businesses in Switzerland, and Europe, are subject to some form of Value Added Tax (VAT). If the issuer of the invoice is based in Switzerland then the invoice needs to contain, at a minimum: The VAT number and the name & address of the provider of the good or service A true description of […]
An overview of payroll social charges in Switzerland […]
CFO 1.0: The traditional role of the CFO has been in keeping accounting records up-to-date and on reporting what has happened. The CFO’s main responsibility was in delivering timely and accurate accounts. The Mindset is Operational and the Technology focuses on Reporting. CFO 2.0: With the advent of large amounts of data to process it […]
The Swiss Federal Government has already introduced a number of measures to assist businesses in Switzerland (a good summary is available in French from the RTS site). Some key aspects to take into consideration in different Cantons are: The suspension of interest payments for late payments of Cantonal & Communal taxes & a very softened […]
For 2019 tax returns the official FTA exchange rates are: Income Fortune USD 1 = CHF 0.99365558 CHF 0.968374 EUR 1 = CHF 1.11247283 CHF 1.087 GBP 1 = CHF 1.26829753 CHF 1.282822 Foreign exchange rates are available here. Average monthly exchange rates are available herei. Daily exchange rates supplied by the […]
Since 1 January 2018 all companies that provide goods or services to Switzerland and which have a worldwide turnover of at least CHF 100,000 (about US$ 100,000) are required registered for Swiss VAT. These companies need to register with the Swiss Federal Tax authorities as soon as they begin their activities in Switzerland. In order […]
Every year Swiss companies must issue a standardized salary certificate to employees noting all taxable benefits employees have received during the year. This catches a lot of perks, but there are exceptions that can be useful to know about. Some key benefits of value that an employer can give his staff (even when self-employed) and […]