Swiss tax law: Bribes are no longer tax-deductible
At its meeting on 11 November 2020, the Swiss Federal Council has decided that the Federal Act on the Tax Treatment of Financial Sanctions shall enter into force with effect on 1 January 2022. This new law states i.a. that bribes paid to private individuals are no longer tax-deductible. This would harmonise tax and criminal law. Finally, expenses making a criminal offence possible or that are paid in return for such offence to be committed shall no longer be tax-deductible.