Roland Reding and Marcel Mangold of KPMG Switzerland analyse a recent decision of the Federal Administrative Court regarding the Swiss VAT treatment of intermediation services (particularly in respect of securities transactions) in the financial services industry and look at the impact it may have on Swiss financial institutions.
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The ruling underscores that tax authorities must provide ‘detailed, well-supported, and logically sound justifications’ when determining reference prices in tax assessments, one expert told ITR
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