Legal

Board members are liable for damages caused by breaches of duty, but can reduce liability through delegation, discharge, and the Business Judgment Rule. They should also obtain the consent of the injured parties for risky decisions.

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 trust agreement is based on contract law, where the trustee is responsible for acting diligently in the interest of the trustor. Although it is informal, a written contract is recommended for evidentiary reasons.

Bitcoins must be accounted for and valued differently depending on their use, which is regulated by specific disclosure rules. For significant holdings and strong value fluctuations, detailed information is required in the appendix of the balance sheet.

Bitcoins can be accounted for as securities, inventories, or intangible assets and can be valued either at acquisition cost/lower of cost or market or at observable market prices. For the market price valuation, the ESTV publishes an average value, but a self-calculated average value can also be used.

Bitcoin is subject to accounting requirements according to Art. 959 par. 2 OR; the accounting depends on the intended use. They are not considered cash or receivables, but can be reported under securities or inventories.

Bitcoin meets all the criteria for an accounting obligation according to Art. 959 CO, including availability and probable inflow of funds. Findea explains central legal aspects of Bitcoin accounting in this article.

Bitcoin is a decentralized cryptocurrency and an anonymous payment system. The legal classification of Bitcoins remains complex, as they are not considered an official currency.

Circular No. 43 concerns tax exemptions for certain incomes in culture, sports, and science according to Art. 24 DBG. Individual assessments are essential for the tax treatment of these incomes.