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Loyens & Loeff Zürich celebrates its 5 year Office Anniversary

Flag on July 13th, 2022


With a history dating back over 100 years, Loyens & Loeff is the largest independent law and tax firm in continental Europe. It provides full-service legal and fiscal support to multinational organisations, financial institutions, investors and High Net-Worth Individuals. Loyens & Loeff specialises in legal and fiscal matters in its home markets: the Netherlands, Belgium, […]

Termination costs for high earners in Switzerland: new flexibility for employers?

Flag on January 3rd, 2017


A recent ruling of the Swiss Federal Supreme court could allow employers in Switzerland greater flexibility in termination packages for some very high earning employees. Under Swiss law, a bonus which is part of an employee’s variable salary with the meaning of the Swiss Code of Obligations (the “Code”) must be paid to an employee […]

New social security rates announced

Flag on January 2nd, 2013


Social security contribution rates are generally adjusted every other year in line with the economic situation and salary trends. The latest amendments came into force on 1 January 2013. Social insurance contributions 2013 Social insurance sector Contributions as percentage of earned income Contributions by insured not in gainful employment Contributions in favour of the employee […]

New legislation on the taxation of share-based employment income

Flag on January 1st, 2013


On January 1, 2013 new federal laws were introduced to ensure a consistent approach in all cantons to the taxation of share-based employment income. Federal Law on the taxation of share-based employment income (“FLTES”) The FLTES introduces consistent rules on the timing of the taxation of share-based remuneration and clarifies an employer’s reporting and withholding […]

Switzerland implements EC Social Security Regulations

Flag on January 5th, 2012


As of 1 April 2012, arrangements regarding social security between Switzerland and the EU member states are governed by the provisions of Regulations (EC) No. 883/2004 and (EC) No. 987/2009 (“The Regulations”). These are the Regulations which harmonise the various European social security systems. With the revised annex II to the Agreement on the free […]

A new retrospective federal inheritance and gift tax?

Flag on January 2nd, 2012


A popular initiative called “Million-estates for the AHV (Inheritance Tax Reform)” was launched in August 2011.  It aims to introduce a federal inheritance and gift tax at a flat tax rate of 20%. At present, the constitutional power to levy inheritance and gift taxes lies exclusively with the Swiss cantons.  However, most cantonal inheritance and […]

Employees residing abroad and holding an employment contract with a Swiss resident employer, but not working on Swiss territory are not subject to Swiss tax at source

Flag on January 10th, 2011


In its decision of March 25, 2011 the Swiss Federal Supreme Court decided that the practice of the tax administration of the canton of Zurich was unlawful. The canton of Zurich had adopted the practice whereby an employment contract with a Swiss resident employer by itself was deemed sufficient to subject such salary to tax […]

Court’s power to imply a principle of a good faith into employment contracts

Flag on January 10th, 2011


Implying an obligation of good faith on the employee, the Swiss Federal Supreme Court ruled that an employment could be terminated on the statutory notice period of one month rather than the contractual three months. On May 7, 2008 the employee and a Swiss resident real estate management company entered into an employment contract.  The […]

New Federal Law on the taxation of employee shareholdings

Flag on January 7th, 2011


The Federal Council has determined that a new Federal Law on the taxation of employee shareholdings (“FLTES”) will enter into force on 1 January, 2013. The FLTES determines the timing of the taxation of employee shareholdings as well as the reporting and withholding obligations for imported and exported employee shareholdings in the case of internationally […]