Trusts Taxation in Switzerland - Geneva - Feb 26, 2008

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Trusts Taxation in Switzerland:   Consequences of the Hague Convention and the new Swiss guidelines on trusts taxation   Geneva - Switzerland- February 26th

Book ConferenceDownload BrochureBecome a Sponsor Speakers Mrs. Laetitia Ahlin (Managing Director,Fidserve SA) Switerland 6 CLE credits available Mr Paolo Panico (Managing Director; Private Trustees) Switzerland Dr Ludovic Verbist (Managing Director; AAMIL Ltd) Switzerland Dr Ramona Piscopo (International Tax Lawyer, Loyens & Loeff) Switzerland Mr Jean-Blaise Eckert (Partner, Lenz & Staehelin) Switzerland Dr Marcel R. Jung (International Tax Lawyer, Bär & Karrer) Switzerland Dr Britta Pfister (Global Head of Wealth Planning, Rothschild Trust) Switzerland Mr Pietro Sansonetti (Partner, Schellenberg Wittmer) Switzerland Thanks to our Partners ...

Dear Executive,   Frequently used in wealth management, trust structures are also very efficient tax optimization tools. The Hague Convention is applicable in Switzerland since July 2007 and has brought multiple changes to the sector.   The treaty?s content is very complete in terms of defining trust structures but contains no specific directives regarding their taxation. Each signatory country is free to apply its own taxation policy within its fiscal territory. Given the current canton-specific trust taxation legislation in Switzerland, the issue has been all-important. Switzerland had to adopt a compromising text that satisfies the parties involved without deteriorating its attractiveness in comparison with foreign competitors.   Via the Swiss taxation conference, the Swiss government has issued a new guideline that aims at establishing a common framework for trusts taxation within the confederation. The impact of this new guideline on trusts in Switzerland remains to be seen.   The comparison between the current framework in Switzerland and its neighbour countries will provide the participants to our conference with an in-depth analysis of the future of trusts in the confederation.   Among the key topics to be fully covered are: Switzerland as a jurisdiction of choice for trusts administration: Confidentiality, know-how and the reputation of Swiss financial centres: a reasonable regulatory approach preventing the risk of over-regulation currently threatening some of the other offshore jurisdictions Switzerland as a ?complete? financial hub offering some potential synergies among different branches in the industry (asset management, investment advisory, custody, fiduciary services, etc?) The outlook for the tax-payer before and after the guideline Will The Hague Convention usher into a domestic market for trusts in Switzerland? What lessons can be learned from Italy?s ?trusts interni? approach and Malta?s inclusion of trusts in its civil law system? The alternative situation of San Marino, Liechtenstein, Luxembourg: trusts markets for foreign clients only Tax treatment of trusts A clear and solid framework needed, at least for ?foreign? trusts Comparison with other civil law countries recognising trusts or otherwise coping with them (Italy, France, Austria) Possession of real estate in Switzerland by a trust   The limitations of the new guideline The importance of trusts for Swiss family offices Programme 09:00 Welcome speech and introduction   09:10 Switzerland and Hague Convention The objectives of the Convention Why did Switzerland ratify the Convention? Consequences and implications Dr Ludovic Verbist (Switzerland) Managing Director AAMIL Ltd   09:55 Will The Hague Convention usher into a domestic market for trusts in Switzerland? Any lessons to be learned from Italy?s ?trusts interni? approach. Will The Hague Convention usher into a domestic market for trusts in Switzerland? The alternative situation of San Marino, Liechtenstein, Luxembourg: trusts markets for foreign clients only Taxation of domestic trusts in the light of the Italian Circular 48/E Mr Paolo Panico (Switzerland) Managing Director Private Trustees   10:40 Coffee break   11:00 Malta?s inclusion of trusts in its civil law system? How the common law concept of trust fits in Maltese civil law Taxation of trusts in Malta Dr Ramona Piscopo (Switzerland) International Tax Lawyer Loyens & Loeff   11:45 Topic to be confirmed   Mrs Laetitia Ahlin (Switzerland) Managing Director Fidserve SA   12:30 Lunch   13:45 New guidelines from the Swiss tax administrations on taxation of trusts: a progress or threat? Historical background of taxation of trusts in Switzerland Specific position of trustees and of underlying companies New guidelines issues by the Swiss Tax Conference: description, loopholes Mr Jean-Blaise Eckert (Switzerland) Partner Lenz & Staehelin   14:30 Practice related to trusts of the Swiss French speaking cantonal tax authorities Critical analysis of the Swiss Tax Conference, newly issued Circular letter on trusts The future developments of the Geneva and Vaud practices aimed at coping with the outcome of the Circular letter Mr Pietro Sansonetti (Switzerland) Partner Schellenberg Wittmer   15:15 Coffee break   15:45 Trusts in International Swiss Tax Planning   Dr Marcel R. Jung (Switzerland) International Tax Lawyer Bär & Karrer   16:30 The future of the Swiss trust industry in light of the Hague Convention Opportunities and challenges for trustees related to financial organisations Impact on trust administration Consequences for the overall business environment Dr Britta Pfister (Switzerland) Global Head of wealth planning Rothschild Trust   17:15 Close of the conference     Download programme

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