Michaela Merz

Author Archives: Michaela Merz


by 1 Comment

Paraguay: New taxes on digital imports as from 1 of January 2020


Under a tax reform that took effect from 1 January 2020, digital services supplied by non-residents to local consumers became liable to 10% VAT and 4.5% Income Tax for Non-Residents (INR). Under the new rules, banks, financial institutions, exchange houses, cooperatives, payment processors or similar entities, and telephone companies or other entities that mediate for the provision of digital services, must act as a withholding agent in respect of collecting the tax due. However, Regulatory Decree No. 3181 establishes a transitional provision under which mandatory withholding for digital services will become effective as of 1 July 2020.

Continue reading →


by Leave a comment

The storm ‘Sabine’


I don’t like carousels, rollercoasters and the like. I get slightly envious of the fun that others experience because I don’t even get to reach that state. The reason being that my stomach and head can’t handle it. What brings others great contentment and a lot of fun, is mostly a torment for me and I don’t see why I should pay money for it. That is actually why I am a bad candidate for fairs. Unfortunately, my predicament goes even further. Chances are I will start to feel nauseous when I’m on water (even though I love water more than anything) because of the movement of the waves and on the bus and train I always only sit in the direction of travel to avoid my stomach getting irritated.

Continue reading →


by Leave a comment

Der Sturm "Sabine"


Ich habe Karussells, Achterbahnen und ähnliches nicht gern. Bei dem Spass, den alle anderen verspüren bin ich leicht neidisch, weil ich so einen Zustand gar nicht erreichen kann. Der Grund ist, dass mein Magen und Kopf das nicht mitmachen. Das was anderen grosse Zufriedenheit und viel Spass bereitet, ist für mich mehrheitlich eine Qual und ich sehe nicht ein, warum ich für so etwas noch Geld bezahlen sollte. Deswegen bin ich eigentlich eine schlechte Kundin für alle Chilbis. Leider geht meine Empfindlichkeit noch weiter. Auf dem Wasser (obwohl ich Wasser über alles liebe) kann mir von den Wellenbewegungen schlecht werden und in Bus und Zug fahre ich immer nur in Fahrtrichtung um die Irritationen meines Magens zu vermeiden.

Continue reading →


by Leave a comment

TP – The OECD released a final paper on Financial Transactions Transfer Pricing


The OECD published a new chapter of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities (“the OECD Guidelines”). The new chapter provides guidance on the transfer pricing for loans, guarantees, cash pools, hedging and captive insurance transactions.

The new chapter is the first OECD guidance on transfer pricing for financial transactions issued in final form and will be the main reference point for pricing and auditing related party financial transactions in most countries going forwards.

Loan, guarantee and cash pool policies that Swiss groups apply across their international operations should be reviewed and updated to ensure compliance with the new guidance.

Continue reading →


by 1 Comment

UK/Switzerland – BREXIT update


The UK’s departure from the EU – BREXIT – took effect on 31 January 2020 under the terms of the Withdrawal Agreement agreed with the EU in October 2019. As a consequence, the UK has left the political institutions of the EU and entered a transition period. During this transition period (until 31 December 2020), EU regulations will in principle continue to apply in the UK. In the course of the next months the UK government and the EU will negotiate a comprehensive trade deal.

The BREXIT may have an impact on the treaty clearance for payments between Switzerland and the UK and puts treaty claims at risk based on the Swiss-US DTT:

Payments from the UK to Switzerland / from Switzerland to UK: replace 823C with 823B

Continue reading →


by Leave a comment

A Foggy Weekend


I woke up and it was milky dark outside. Nothing unusual for it to still be dark on a January morning but the darkness was not black but milky. It was already nearly 9 a.m. and outside the darkness had left to make way for the day. But the sun wasn’t able to reach my window. No wonder since the fog was so thick and persistent, that you nearly felt like you were being wrapped into cotton. In the beginning I still found it entertaining but after a while my level of discomfort increased. It felt like you were losing your sense of time and space.

Continue reading →


by Leave a comment

Ein nebliges Wochenende


Ich bin aufgewacht und draussen war es milchig dunkel. Es ist nichts Ungewöhnliches, dass es im Januar am Morgen noch Dunkel ist aber diese Dunkelheit war nicht schwarz, sondern milchig. Es war eigentlich schon fast 9 Uhr und draussen hat die Dunkelheit dem Tag gewichen. Aber die Sonne schaffte es nicht bis zu meinem Fenster vorzudringen. Kein Wunder, weil der Nebel so dick und hartnäckig war, dass man fast das Gefühl hatte in Watte gewickelt zu sein. Am Anfang habe ich es noch belustigend gefunden aber mit der Zeit hat mein Unwohlsein zugenommen. Es fühlte sich an wie wenn man das Gefühl für Raum und Zeit verloren hätte.

Continue reading →