Edition 4/2025

Diese Ausgabe widmet sich vollständig dem Themenkomplex «Immobilien». Die vier Beiträge beleuchten zentrale Brennpunkte, die die Praxis heute prägen. Immobilien bilden ein eigenes Universum im Steuerrecht: Die Themen sind vielschichtig und kantonal geprägt. Zwischen laufender Besteuerung, Grundstückgewinnen, gesellschaftsrechtlichen Strukturen und internationaler Verflechtung zeigt sich, dass selbst vermeintlich klassische Fragestellungen neue Fragen aufwerfen. Die jüngsten Entwicklungen führen eindrücklich vor Augen, wie dynamisch die Immobilienbesteuerung geworden ist.

Real estate companies have an incentive to shift as much profit as possible from the “real estate gain” tax category into the realm of income tax. Instead of handling the purchase of the property, the development of the site, and the subsequent marketing through a single company, these functions are divided among various companies within a corporate group. This paper highlights the associated problems of profit shifting and suggests possible solutions.

The Swiss real estate market is becoming an increasingly attractive investment destination for foreign investors. This article provides an overview of the key tax considerations related to cross-border real estate transactions. In addition to a brief overview of current tax issues, the article examines in detail investment in commercial real estate and the question of whether, for property tax purposes, the entity is an operating company or a real estate company, as well as the tax treatment of a sale of shares in a Swiss real estate company under Swiss domestic law and treaty law.

This article compares the tax implications of holding real estate directly as part of one’s personal assets with holding it indirectly through a real estate company. It explains the key differences in ongoing taxation—under current law as well as under the system change expected to take effect in 2028—and in the sale of real estate, illustrating these points with examples.

With the publication of the new FTA VAT Info 11 on Reporting Procedures in February 2025, the scope of the reporting procedure—particularly with regard to real estate—has been redefined or clarified through changes and clarifications in practice. These changes underscore the need to carefully examine the available alternatives for every real estate transaction in order to avoid irreparable errors and minimize VAT as a cost factor.

The concept of a professional real estate dealer under real estate gains tax law is based on the same concept as that used in case law and practice regarding income taxes. The only distinction is that, for the purposes of real estate gains taxation, this concept must also be applied mutatis mutandis to legal entities. The tax implications under real estate gains tax are the opposite: While being classified as a dealer in income taxation leads to a massive tax and social security burden, the same classification under real estate gains tax grants only tax relief. It is hardly surprising that one and the same concept has developed in different directions. This article discusses the latest developments, the extent to which they differ in both areas of law, and what a publication on practical application can achieve.