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Zurich extended the deadline for tax returns until 09/30/2020 due to COVID-19. Penalties threaten in case of missing the deadline, but a quick follow-up submission can help.

The Sarbanes-Oxley Act was introduced to ensure transparent reporting in US capital markets following accounting scandals. It implies strict auditing regulations also for non-US companies and inspired similar laws worldwide.

The Federal Council is planning an inheritance law reform to facilitate the transfer of SMEs within the family and thus improve business stability. Current regulations often lead to financing problems for heirs; the reform aims to allow adjustments and simplify compensation obligations.

The Federal Council is planning an inheritance law reform to facilitate business succession in family-owned companies, to secure SME stability and jobs in Switzerland. The revision includes measures such as integral assignment and payment deferrals for successors.

Family businesses in Switzerland, such as Roche and Swatch, promote their success through specially tailored family constitutions that serve as codes of values and conduct. These constitutions help prevent conflicts and pursue uniform goals by pooling interests and establishing common principles.

Taxable persons must submit necessary documents for the examination of taxes and input tax deductions to the FTA; if this is not done, the FTA can carry out a discretionary assessment. In cases of missing or incorrect documentation, the Federal Court supported a discretionary estimate as legally compliant.

BEPS describes the exploitation of international tax laws by corporations to shift profits and minimize their tax burden. The OECD combats such tax avoidance strategies with guidelines and transparency measures.

The referendum on increasing the tax deduction for third-party child care scheduled for May 17, 2020, was postponed due to the coronavirus. The vote is intended to promote the compatibility of career and family, but is criticized by the SP, GLP, and Greens.

The basic principles of tax sovereignty in Switzerland protect citizens through fair tax collection and laws. Violations of these principles can be legally challenged.