In our December Newsletter, Denis Cherpillod, Attorney at Law, reveals the modifications brought by the Federal Act on the Implementation of the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes, which entered into force on November 1, 2019. This law, which mainly aims at improving the transparency of legal entities, leads to the near-disappearance of bearer shares and reshapes the reporting regime applicable to economic beneficiaries, while introducing penal sanctions in case of violation of reporting obligations.
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