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Federal Councilor Ueli Maurer called for framework conditions for the digitization of the financial sector at the G20 meeting. The Federal Minister of Finance also commented on the taxation of the digital economy
Federal Councilor Ueli Maurer, head of the Federal Department of Finance (FDF), focused on digitization at the meeting G20 finance ministers in Buenos Aires. Especially in the financial sector, it is important to create the necessary framework for innovation. At the same time, high standards need to be set regarding the integrity of the markets.
According to Maurer, cryptocurrency management recognizes that distributed-logging technology (DLT), which includes blockchain technology, has great potential for financial services. , The head of the EFD also pointed out in his speech before the finance ministers that the regulation of financial technologies in general and DLT especially neutral technologies are important
The integrity of the financial market must also to be maintained by legislation on the fight against money laundering and the financing of terrorism. fully applicable to crypto currency. This is the case in Switzerland. According to Federal Minister Maurer, the Financial Action Task Force, the FATF, has an important role to play in rapidly clarifying the standards applicable in this field on a global scale.
Digital Taxation of the Digital Economy
Mason also commented on the taxation of the digital economy, Switzerland therefore wants to apply the principle of increasing taxes where the creation of value is also performed for digital services. Only a uniform international approach creates reliability for companies and avoids double taxation. Switzerland shares the view that a substantive discussion should result in a 2020 OECD report by the end of 2019.
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