TRAF – abolition of federal practices for principal companies and Swiss finance branches
Bern, 22.05.2019 - The federal practices for principal companies and Swiss finance branches will be abolished with effect from 1 January 2020. The Federal Council was informed of this on 22 May 2019.
On 19 May 2019, the electorate approved the Federal Act on Tax Reform and AHV Financing (TRAF). The TRAF regulations are therefore expected to come into force on 1 January 2020. At the same time, the Federal Tax Administration (FTA) will completely abolish the federal practices for principal companies and Swiss finance branches. Since these are practical regulations, no changes to the law are necessary to abolish them.
Since 1 January 2019, no new companies have been admitted to these two federal practices. This was announced by the FTA on 15 November 2018.
Address for enquiries
Joel Weibel, Communications Specialist, Federal Tax Administration FTA
Tel. +41 58 464 90 00, media@estv.admin.ch
Publisher
The Federal Council
https://www.admin.ch/gov/en/start.html
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
