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Introduction of a temporary digital tax in the European Union - Switzerland against

Introduction of a temporary digital tax in the European Union - Switzerland against

2018-04-27
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The Swiss government has announced the implementation of a number of measures to impose a tax on transactions using digital technologies. Actions are taken on a short-term basis.

This week was a meeting of the leaders of the country's leading banks, together with the G20 finance ministers. The agenda included the issue of taxation of income derived from digital programming. Participants stated that profits from the use of such technologies should be subject to mandatory fees. Managers emphasized that this should take into account the rules on double taxation. The reforms being undertaken should be discussed in advance with the OECD.

Swiss Finance Minister Uli Maurer explained the place in the circulation of cryptocurrency capital. He stressed that their use causes certain risks that lead to money laundering directed to the financing of illegal activities and international terrorism. One of the problems is the protection of investors' rights to savings. The functions of the guarantor of rights should be assigned to the power when authorized bodies are vested with the relevant powers.

Mr. Maurer proposed to introduce the concept of “permanent digital representation”. The duties of such a constituent body will include the calculation and control of tax collection. In practice, all transactions are carried out in encrypted form through a third country where the financial center is located - a subsidiary or center. Actually pays taxes a company registered in another state. It is proposed to introduce the payment of mandatory fees through both structures independently.

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