Financial Services Tax

Government policymakers around the world are working together on tax reforms that could significantly alter the way global businesses are taxed. For instance, the BEPS 2.0 project, which is shifting the global tax architecture under which multinational corporations operate, was implemented by Switzerland using the qualified domestic minimum top-up tax (QDMTT) provided under BEPS 2.0 as of 1 January 2024.  EY Switzerland’s Financial Services Tax can help you navigate these changes and any others that emerge on the international tax horizon.

As technology comes of age, financial institutions must transform to keep up with stakeholder demands – including those of increasingly digital revenue authorities.

EY Financial Services Tax delivers integrated solutions and resources to help you do tax better, faster and more cost effectively through technology enablement, automation and digitalization.

We help define what it means to operate “best in class” and “best in cost,” with a blueprint for dividing functional activities to reach the desired result — from technology to talent.

The Customer Tax Operations and Reporting Services (CTORS) team advises clients across the client tax lifecycle from onboarding to product suitability and tax risk, to client data maintenance to reporting and withholding. Our team helps organizations meet their customer-related regulatory obligations, (including Qualified Intermediary (QI), s871m, Automatic Exchange of Information / Common Reporting Standard, Mandatory Disclosure Regime/ DAC6 etc.) as well as product tax suitability, operational taxes and client reporting, supported by EY teams across the globe and underpinned by a suite of secure, connected, technology solutions supporting each stage of the customer tax life cycle.

In recent years, fund tax reporting has evolved into a sector norm, applicable not only to retail funds but also to alternative investments. In response to the evolving landscape, distributors now favor funds that show complete adherence to all investor tax regulations. As per Swiss tax law, Swiss investors —  given proper structuring and compliance with reporting — can enjoy a tax exemption on private capital gains. Guaranteeing complete compliance for your investors offers you a strategic advantage, enabling you to broaden your reach and attractiveness to Swiss investors.

EY has developed an integrated package of tax services to help asset managers and funds meet their tax obligations, mitigate risks and contain costs. Our asset management tax professionals are ready to work with you and provide EY services through our Global Tax Platform (GTP).

With capabilities to analyze large amounts of multijurisdictional data, EY’s Tax Accounting and Risk Advisory Services (TARAS) network of dedicated professionals advises you on intricate tax issues. Support includes preparing accounting calculations, researching technical issues, advising on complex planning and transactions, implementing and remediating processes and controls, establishment or health check of Tax Risk Management Frameworks and Policies, and advising on sustainability matters.

TARAS also assists your business with all aspects of financial and sustainability reporting for tax, helping to improve your overall performance.

For companies considering a transaction, it is critical to develop a holistic strategy to properly react, recover and shape their futures. Focusing on the tax, legal and workforce consequences of transformational change, our market-leading EY team of transaction, law and workforce advisory professionals will help you drive sustainable and inclusive growth by providing end-to-end strategy, deal execution and post-deal services advice.

Revenue authorities, including those in Switzerland, are focusing more widely and intensely on transfer pricing issues. From documentation to helping your practices match your policies, our teams of experienced professionals can help interpret the intent of tax authorities wherever you operate or intend to operate

Whatever your situation, appropriately pricing and documenting your intercompany transactions to comply with various countries’ rules and legislation is imperative in managing tax risk. Whether you choose to apply a globally centralized approach or a decentralized solution for your documentation needs, it is important to understand the rigorous transfer pricing scrutiny in your relevant jurisdictions. We guide you in developing a risk-based approach that aligns your business and tax strategies with your risk profile.

With urgent environmental and social action needed from business, the tax function has never had a more critical role in accelerating your sustainability strategy and building long-term value. EY Sustainability Tax can help you turn ambitions into action, through a holistic view of your global tax strategy. Complex government policy and growth opportunities around sustainability mean the tax function must move beyond keeping up. It must take the lead in driving a corporate sustainability strategy throughout your entire organization.