Michaela Merz


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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.

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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

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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.

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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.

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Switzerland: VAT return digitalization


Swiss VAT – “MWST-Abrechnung easy”

Today, the FTA reached another milestone in its digitization strategy: More than half of the taxable persons settle VAT online.

Within the last year, the proportion of persons settling online has risen from 36% to over 50%. This means that currently more than 194,000 companies are settling VAT electronically, and the trend is rising.

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EU : EORI Number and Brexit


UK left EU on January 31, 2020. Transition period run until December 31, 2020.

In the Netherlands the Dutch customs authorities have already granted Dutch EORI numbers to companies which have a UK EORI number as well. Therefore number of companies have two active EORI numbers in place.

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Webinar: Middle East VAT Challenges in the New Decade


I am delighted to invite you to the next in the series of global webcasts on “Middle East VAT Challenges in the New Decade for non-residents providing inbound professional, e-commerce and digital services” on Monday 10 February 2020.  

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