On February 17, 2016, the Committee for Economic Affairs and Taxation of the Swiss Council of States (CEAT-S) resolved to enter into consultation proceedings regarding the draft Financial Services Act (FinSA) and the draft Financial Institutions Act (FinIA). We reported on these draft bills in our posts of January 1, 2016 and July 8, 2014. However, the CEAT-S expressly reserved its rights to substantially modify the drafts. The detailed consultation will start in April 2016.
// Financial Law Update
CEAT-S Enters Consultation Proceedings on FinSA and FinIA
NFTs in Metaverse: Do Trademark Owners need to register their Trademarks for Virtual Goods and Services?
“Nike Sold an NFT Sneaker for USD 134’000”: This York Times headline of May 26, 2022 and similar headlines regarding virtual goods in Metaverses or NFT Trade Platforms have made us realize that NFTs are not only for digital art but also a huge market for brand products.
New Proposal for Swiss Corporate Tax Reform
The Steering Committee representing the cantons and Swiss Federation issued its recommendation regarding the implementation of a modified corporate tax reform to the Swiss Federal Council on June 1, 2017. The corporate tax reform has been renamed the Tax Proposal (“T.P. 17”) and is, in general, based on the Corporate Tax Reform III (“C.T.R. III”), which was rejected on February 12, 2017, by Swiss voters.