Switzerland levies an issuance stamp duty of 1% on the creation and increase of equity of Swiss corporations in excess of one million francs. This tax on the capitalization of companies is known as &#8220;capital tax&#8221; and has in most European countries long disappeared. It is perceived as one of Switzerland&#8217;s disadvantages in international tax competition since it impedes the raising of equity and places a financial burden on companies. Start-ups, which are mainly financed by capital increases in the founding years, are particularly affected.
Today, the Assembly of the Federal Parliament resolved to abolish the issuance stamp duty. This resolution goes back to a parliamentary initiative of the Liberal Democratic Party in 2009. Already in 2013, the National Council has approved the abolition of the issuance stamp duty. However, the preliminary bill was subsequently suspended by the Council of States. After a group of experts with representatives from the Federal government, cantons, business and science recommended the abolition of the issuance stamp duty in December 2020 and the Federal Council also expressed a positive opinion, the Council of States has now also approved the proposal.
The abolition of the issuance stamp duty would result in annual revenue losses of around CHF 250 million for the Federal government in the short term. However, it is expected that these would be more than offset in the medium to long term by the positive effect on the economy.
The abolition of the issuance stamp duty could in principle come into force on January 1, 2022. However, the Social Democratic Party has announced that it will launch a referendum. It is expected that the required 50,000 signatures will be collected and that a popular vote will take place. Accordingly, the Swiss people should ultimately decide. Such a popular vote is not likely to take place until 2022, so that the entry into force of the abolition of the issuance stamp duty is likely to be delayed.

Abolition of the 1% Issuance Stamp Duty

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Homburger News

Homburger and Scaled Agile

On April 20, 2023, Scaled Agile Inc., a portfolio company of Eurazeo SE (Euronext Paris: RF), one of Europe&#8217;s leading private equity firms, announced its acquisition of Rentouch, a Swiss-based company specializing in software for visualizing agile planning events across multiple agile teams with SAFe®. This acquisition aims to accelerate Scaled Agile&#8217;s goal to redefine the way the world&#8217;s leading organizations identify and deliver customer value, capitalize on emerging opportunities, and improve business outcomes through integrated solutions that help teams unlock better ways of working.
Homburger advised Scaled Agile in this transaction. The team was led by Dieter Gericke (Corporate/M&amp;A) and included Léonard Aeschlimann (Corporate/M&amp;A), Reto Heuberger, Philippe Weber (both Tax), Gabriel Kasper (IP/IT and Data Protection), Matia Trosic and Frédéric Fitzi (both Employment and Executive Compensation) as well as Pepe Hünerwadel and Florian Gasche (both Corporate/M&amp;A).

Homburger advises Scaled Agile on its acquisition of Rentouch

Competition

Real Estate

Homburger for Aequita

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AEQUITA entered into an agreement to acquire the Swiss Glassolutions business from Saint-Gobain. The acquisition that is expected to close in May 2023 will further strengthen AEQUITA&#8217;s specialty glass division vandaglas.
AEQUITA is a Munich-based, privately held German industrial group, investing in special situations such as corporate carve-outs, successions and recovery situations across Europe.
Homburger acts as transactional counsel to AEQUITA. The team included Andreas Müller and Stefan Luginbühl (both Corporate/M&amp;A), Reto Heuberger and Philippe Weber (both Tax), Richard Stäuber (Competition) as well as Stefan Gäumann (Real Estate).

Homburger advises AEQUITA on its acquisition of Saint-Gobain's Swiss Glassolutions Business

Tiedemann Group

On January 3, 2023, Tiedemann Group, Alvarium Investments Limited and special purpose acquisition company Cartesian Growth Corporation (NASDAQ: GLBL) announced that they have completed their previously announced business combination. The combined company now operates as Alvarium Tiedemann Holdings, Inc. (NASDAQ: ALTI).
AlTi is a leading independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. The firm currently manages or advises on approximately USD 60 bn in combined assets and has an expansive network with over 400 professionals across four continents.
Homburger advised Tiedemann Group and its Switzerland-based international operations, Tiedemann Constantia, on all Swiss legal and tax aspects of the transaction. The Homburger team comprised Andreas Müller, Anna Peter and Oriana Schöni (all Corporate / M&amp;A) and Reto Heuberger, Philippe Gobet and Philippe Weber (all Tax).

Philippe
Weber

Homburger advises Scaled Agile on its acquisition of Rentouch

Homburger advises AEQUITA on its acquisition of Saint-Gobain's Swiss Glassolutions Business

Homburger advised Tiedemann Group on its Business Combination with Alvarium Investments and Cartesian Growth Corporation

Abolition of the 1% Issuance Stamp Duty

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Philippe Weber

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PhilippeWeber

Homburger advises Scaled Agile on its acquisition of Rentouch

Homburger advises AEQUITA on its acquisition of Saint-Gobain's Swiss Glassolutions Business

Homburger advised Tiedemann Group on its Business Combination with Alvarium Investments and Cartesian Growth Corporation

Abolition of the 1% Issuance Stamp Duty

Join the Team

Philippe Weber

Career

Languages

Bar Registration

Teams

Philippe
Weber