SWISS REVAMP ALIGNS TAX AND CRIMINAL LAWS ON BRIBERY
November 2nd, 2020
SWITZERLAND’S federal government has passed a new law that will finally prevent Swiss companies and individuals from tax deducting bribes as investment or business development costs, even though such graft has been illegal since July 2017.
That was the date that a revised criminal code outlawing bribery in Switzerland and overseas of public and private partners came into force, but Swiss tax law has not kept pace. Now it has, albeit with a long lead in time. Switzerland’s new Federal Act on the Tax Treatment of Financial Sanctions, which takes effect on ...
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