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Set of flashcards Details
| Flashcards | 52 |
|---|---|
| Language | Deutsch |
| Category | Finance |
| Level | University |
| Created / Updated | 17.06.2017 / 09.03.2021 |
| Weblink |
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Name the four levels of tax levying authorities!
1. Federal
2. State (Cantons)
3. Commune
4. Church
What is a genuine restructuring gain?
- represents taxable income
- transaction between company and third party
- offsetting of tax losses next 7 years
What is a not-genuine restructuring gain?
- Tax neutral
- still offset against losses (booked on B/S)
- transaction between company and affiliated party
- But issue tax are payable
What taxes have to be paid on capital increase?
Issue tax 1 %
What is a fonds perdu payment and what taxes have to be paid on it?
- Pay funds into a company without expecting anything back
- If from shareholders or affiliated parties - not taxable - not-genuine restructuring gain
- If from third parties - taxable - genuine restructuring gain
Are revaluations taxable?
- Genuine restructruing gain - yes
What taxes have to be paid on capital reductions?
Issue tax is payable
What taxes have to be paid if subordinating a claim (subordination agreement)?
Not a problem for tax purpose in Switzerland (maybe for German Shareholders)
What taxes have to be paid for debt-equity swaps?
Issue tax is payable!
Please indicate in a few bullet points the main risks the BOD may be exposed to when selling assets to a third party corporation before bankruptcy!
- The valuation of the transfer of the assets is a key issue
- If the price is too low, the BOD is exposed to the allegation of dissipation of assets (actio pauliano)
- It can also lead to threats of criminal law, not only liability risks
- As a mitigation risk, the BOD should try to obtain several quotes of various interested parties to establish a "market price" of the operations to be transfered
- The transfer of un-collateralized or un-privileged claims is not allowed
Please describe briefly what the debt capacity is and what role it plays in the financial markets!
The debt capacity shows how much debt a company is able to to take respectively to pay back over several years. Banks are calculating this figure to see how much loan they can give and to define the interest rate.
Please indicate measures to be taken by a bank immediately after the detection of a defaultive client engagement; give at least 5 examples.
- Freeze all other accounts
- Check credit documentation
- make a list with other creditors
- estimate short term liquidity
- define covenants
