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2021-02-08

【Wealth Succession】

BANKING: ‘Punitive’ foreign fines to be tax-deductible

Starting in January 2022, Swiss banks will be able to write off financial penalties imposed by foreign governments against their Swiss tax bills, if they can show that the sanctions violate Swiss public policy or that they have taken all reasonable steps to comply with the law.


News Source:【Swiss Federal Council 2020/11/11】

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