Federal Act of June 27, 1973, on Stamp Duties (SD) (STG)

The Confederation levies stamp duties: a. on the issuance of the following Swiss securities: 1. shares, 2. membership units of limited liability companies and cooperative societies, 2bis. participation certificates and social participation certificates of cooperative banks, 3. enjoyment certificates, [tab] 4. and 5. ... b. on the negotiation of the following Swiss and foreign securities: 1. bonds, 2. shares, 3. membership units of limited liability companies and cooperative societies, 3bis. participation certificates and social participation certificates of cooperative banks, 4. enjoyment certificates, 5. units of collective investment schemes pursuant to the Collective Investment Schemes Act of June 23, 2006 (CISA), 6. documents which, according to this Act, are equivalent to the securities listed in no. 1 to 5; c. on the payment of insurance premiums upon receipt.

If, in the legal transactions mentioned in para. 1, no securities are issued or delivered, the books or other documents used to record the legal transactions shall serve as securities.

Documents that are subject to a stamp duty under the present law or declared exempt by it cannot be subjected by the cantons to stamp duties or registration fees of the same kind. The Federal Supreme Court hears disputes relating to this provision as a court of first instance (Art. 116 of the Federal Judiciary Organization Act of December 16, 1943, OJ).

Documents used in the transport of luggage, animals, and goods by the Federal Railways and transport companies to which the Confederation has granted a concession are also exempt from stamp duties.

The term "Swiss" or "domiciled in Switzerland" applies to anyone who has their domicile in Switzerland, resides there permanently, has their statutory or legal seat there, or is registered as a business in the commercial register.

Fixed capital investment companies, as defined in Art. 110 CISA, are regarded in this Act as capital companies.

Debentures are written acknowledgments of debt that relate to fixed amounts, issued in multiple copies and aimed at the collective obtaining of capital, the creation of collective investment opportunities, or the consolidation of obligations, particularly bond loans, including loan securities secured by real estate mortgage in accordance with Art. 875 of the Civil Code, annuities, mortgage bonds, savings bonds, and deposit certificates, as well as claims registered in the debt register.

Equated with debentures are: a. bills of exchange, debt acknowledgments similar to bills of exchange, and other money market papers issued in multiple copies when intended to be placed with the public; b. documents relating to sub-participations in claims resulting from loans; c. accounting claims issued in multiple copies and aimed at the collective obtaining of capital.

Monetary papers are debentures that have a fixed duration and do not exceed twelve months.

The issuance duty concerns: a. the creation and the increase of the nominal value, either for a consideration or gratis, of participation rights in the form of – shares of Swiss stock corporations and limited partnerships with shares, – equity interests of Swiss limited liability companies, – cooperative shares of Swiss cooperatives, – enjoyment certificates of Swiss companies. Enjoyment certificates are considered documents related to participation rights in net profits or the result of liquidation, – participation certificates of Swiss companies or Swiss commercial enterprises with a public law status, – cooperative bank participation certificates; b.

The following are considered equivalent to the creation of participation rights within the meaning of para. 1, let. a: a. additional payments made by shareholders or associates to the company without corresponding compensation and without increasing the share capital registered in the commercial register or the amount paid on the cooperative's equity holdings; b. the transfer of the majority of shares or equity interests of a Swiss company that is economically liquidated or whose assets have been liquidated; c. ...

Not subject to the issue duty are: a. the participation rights in joint-stock companies, limited partnerships with shares, limited liability companies, or cooperative societies that operate without any profit motive in favor of the poor and sick, religious services, education, or other works of public utility, or aim to provide affordable housing or guarantee, provided that, according to the statutes, – dividends are limited to a maximum of 6 percent of the paid-up share capital, – the payment of bonuses is excluded, and – the balance of assets, after repayment of the paid-up share capital, is allocated to similar purposes in the event of the dissolution of the company; [tab] a bis. the participation rights created or increased pursuant to merger decisions or concentration measures that are economically equivalent to mergers, transformations, and divisions of joint-stock companies, limited partnerships with shares, limited liability companies, or cooperative societies; [tab] a ter. the creation or increase of the nominal value of participation rights in companies exclusively owned by public authorities and pursuing a public service objective within the meaning of Art. 1 of the Federal Act of March 17, 2023, on the Use of Electronic Means for the Execution of Public Authority Tasks, as well as any operation aiming to create participation rights in such companies; b. the creation of participation rights in cooperative societies or the increase of their nominal value, as long as the contributions of the members, within the meaning of Art. 5, do not exceed one million francs in total; c. the participation rights in transport enterprises, created or increased in favor of public authorities due to their investment contributions; d. the participation rights that are created or increased using previous agios and payments by shareholders or members, provided that the company proves it has paid the issue duty on these agios and payments; e. ... f. ... g. the participation rights that are created or increased using participation capital or share capital of a cooperative bank, provided that the company or cooperative proves it has paid the issue duty on this participation capital or share capital; h. the participation rights issued against payment at the foundation or capital increase of a joint-stock company, limited partnership with shares, or limited liability company, provided that the payments from the shareholders do not exceed a total sum of one million francs; i. the creation of units of collective investment schemes within the meaning of the CISA; j. the participation rights created or increased to take over a business or a part of a business of a joint-stock company, limited partnership with shares, limited liability company, or cooperative society, provided that, according to the balance sheet of the last financial year, half of the capital and legal reserves of this company or cooperative society is no longer covered; k. the creation of participation rights or the increase of their nominal value in the case of open restructuring, up to the amount before restructuring, as well as additional payments by shareholders or members in the case of silent restructuring, provided that: – existing losses are eliminated, and – the contributions of the shareholders or members do not exceed a total of 10 million francs; l. the participation rights in banks or affiliates of financial groups that are created or increased using convertible capital according to Art. 13, para. 1, or 30 b, para. 7, let. b, of the Act of November 8, 1934, on Banks approved by the Swiss Financial Market Supervisory Authority to meet regulatory requirements; m. ...

If the conditions for exemption are no longer met, the duty must be paid on the still existing participation rights.

The tax claim arises

a. for shares, participation certificates, limited liability company equity shares, and cooperative bank participation certificates: upon registration in the commercial register of the creation or increase of participation rights;

a bis. for participation rights created in the form of a conditional increase: upon their issuance;

b. ...

c. for cooperative society equity shares: upon their creation or increase;

d. for enjoyment certificates: upon their issuance or increase;

e. for additional contributions and for the transfer of the majority of participation rights: upon the payment or transfer;

f. for participation rights issued within the framework of a capital fluctuation margin as per Articles 653 et seq. of the Code of Obligations, at the expiration of the capital fluctuation margin.

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The issue tax on participation rights is set at 1 percent and is calculated as follows: a. for the creation and increase of participation rights: on the amount received by the company in exchange for the participation rights, but at least on the nominal value; b. for additional contributions: on the amount of the contribution; c. for the transfer of the majority of participation rights: on the net assets of the company at the time of transfer, but at least on the nominal value of all existing participation rights.

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Assets and rights must be estimated at their market value at the time of contribution.

The issuance duty is: a. ... b. ... c. ... d. on gratis participation certificates issued: at 3 francs per participation certificate; e. on participation rights created or increased in accordance with decisions of merger, demerger, or transformation of sole proprietorships, commercial companies without legal personality, associations, foundations, or public-law enterprises, provided that the concerned entity has existed for at least five years: at 1% of the nominal value, subject to the exceptions of Art. 6, para. 1, let. h; the capital gain is subject to a subsequent settlement if, within five years following the restructuring, the participation rights are disposed of.

Contributions made during a financial year to the share capital of a cooperative are only subject to the issuance duty to the extent that they exceed the refunds of share capital made during the same financial year.

Funds received by the company within the framework of a capital fluctuation margin pursuant to Arts. 653 et seq. of the Code of Obligations are only subject to the issuance duty to the extent that they exceed the repayments made within the framework of the capital fluctuation margin.

For participation rights, the tax obligation lies with the company. In the event of a transfer of the majority of participation rights (Art. 5 para. 2 let. b), the transferor is jointly and severally liable.

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The issue duty is due: a. on the cooperative shares: 30 days after the end of the financial year; b. on participation rights: 30 days after the end of the quarter during which the tax liability arose (Art. 7); c. in all other cases: thirty days after the tax liability arises (Art. 7).

If, during the open or tacit restructuring of a public limited company, a partnership limited by shares, a limited liability company, or a cooperative society, the collection of the issue duty would evidently have overly strict consequences, a deferment or remission of the duty must be granted.

The negotiation duty pertains to the transfer for consideration of the ownership of documents indicated in para. 2, if one of the parties or one of the intermediaries is a securities dealer within the meaning of para. 3.

The taxable documents are: a. the following securities issued by a person domiciled in Switzerland: 1. bonds (Art. 4, para. 3 and 4), 2. shares, interest shares of limited liability companies, participation shares and participation certificates of cooperative companies, participation certificates, enjoyment certificates, 3. units of collective investment schemes within the meaning of the CISA; b. the securities issued by a person domiciled abroad performing the same economic functions as the securities in the sense of let. a; the Federal Council must exempt the issuance of foreign securities from the duty if the monetary situation or the capital market requires it; c. the documents related to sub-participations in securities within the meaning of let. a and b.

Securities dealers are: a. banks, financial companies with a banking character within the meaning of the Banking Act of 8 November 1934, the Swiss National Bank, as well as central counterparties within the meaning of the Financial Market Infrastructure Act of 19 June 2015; b. Swiss natural and legal persons and partnerships, as well as Swiss establishments and branches of foreign enterprises not falling under let. a, whose activities consist exclusively, or predominantly, 1. in trading taxable documents on behalf of third parties (dealers), or 2. in acting as intermediaries in the capacity of investment advisers or asset managers in the purchase and sale of taxable documents (intermediaries); c. ... d. Swiss corporations, partnerships limited by shares, limited liability companies, and cooperative companies, as well as Swiss occupational and tied pension institutions not falling under let. a and b, whose assets, according to the latest balance sheet, consist of more than 10 million francs in taxable documents within the meaning of para. 2; e. ... f. the Confederation, cantons, and political municipalities, including their establishments, provided their accounts indicate taxable documents within the meaning of para. 2 with a value exceeding 10 million francs, as well as Swiss social insurance institutions.

Considered as Swiss occupational and tied pension institutions within the meaning of para. 3, let. d are: a. pension institutions within the meaning of Art. 48 of the Federal Act of 25 June 1982 on Occupational Old Age, Survivors' and Invalidity Pension Provision (LPP) and Art. 331 of the Swiss Code of Obligations, as well as the Guarantee Fund and the Substitute Institution within the meaning of Arts. 56 and 60 LPP; b. vested benefits foundations within the meaning of Arts. 10, para. 3, and 19 of the Ordinance of 3 October 1994 on Vested Benefits; c. institutions concluding contracts and agreements of tied pension provision within the meaning of Art. 1, para. 1, let. b of the Ordinance of 13 November 1985 on Tax-Deductible Contributions to Recognised Pension Plans; d. investment foundations dedicated to the investment and management of funds from the institutions referred to in lets. a to c and subject to the supervision of the Confederation or the cantons.

Considered as Swiss social insurance institutions within the meaning of para. 3, let. f, are the compensation fund for old-age and survivors’ insurance and that for unemployment insurance.

The following are not subject to negotiation duty: a. the issuance of shares, limited liability company memberships, cooperative society shares, cooperative bank participation certificates, participation certificates, enjoyment certificates, and units of collective investment schemes as defined by the CISA, Swiss bonds and money market instruments, including firm commitments by a bank or a holding company and the allocation of securities upon their subsequent issuance; b. the contribution of securities used as payment for shares, limited liability company memberships, cooperative society shares, cooperative bank participation certificates, participation certificates, and units of collective investment schemes as defined by the CISA, whether these shares, memberships, or certificates are Swiss or foreign; c. ... d. the trading of subscription rights; e. the delivery of securities for redemption purposes; f. the issuance of bonds by debtors domiciled abroad denominated in foreign currency (euro bonds), as well as the issuance of participation rights in foreign companies; only those securities where both the interest payment and capital repayment are made in foreign currency are considered euro bonds; g. the trading of Swiss and foreign money market instruments; h. the purchase and sale of foreign bonds and the brokerage in the purchase and sale for the buyer or seller when the contracting party is foreign; i. the transfer of taxable securities within the context of a restructuring, particularly a merger, division, or conversion, carried out by the company being acquired, divided, or transformed for the benefit of the acquiring or transformed company; j. the acquisition or disposal of taxable documents in the case of restructurings as defined by Art. 61, para. 3, and Art. 64, para. 1 bis, of the Federal Act of December 14, 1990, on Direct Federal Taxation, as well as in the case of transferring at least 20% of the share capital or the equity capital of other companies to a Swiss or foreign group company.

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A professional securities dealer as defined in Art. 13, para. 3, let. a and b, point 1, is exempt from the part of the duties that concern him when he sells securities from his commercial stock or acquires them to increase this stock. The commercial stock is considered to be the stock of securities composed of taxable documents resulting from the professional dealer's commercial activity, excluding participations and stocks with characteristics of an investment.

The tax claim arises at the time of the conclusion of the transaction.

For conditional transactions or those granting an option right, the tax claim arises at the time of the execution of the transaction.

The negotiation fee is calculated based on the consideration and amounts to a. 1.5 per mille for securities issued by a person domiciled in Switzerland; b. 3 per mille for securities issued by a person domiciled abroad.

If the consideration does not consist of a sum of money, the fair market value of the agreed consideration is decisive.

The tax obligation falls upon the securities dealer.

He owes half of the duty: a. if he is an intermediary: for each contracting party who does not provide evidence of their status as a registered securities dealer or an exempt investor; b. if he is a contracting party: for himself and for the counterparty who does not provide evidence of their status as a registered securities dealer or an exempt investor.

The securities dealer is considered as an intermediary: a. if he settles accounts with the principal according to the original terms of the transaction concluded with the counterparty; b. if he merely indicates to the parties the opportunity to conclude a transaction; c. if he transfers the securities on the same day of their acquisition.

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The following are considered exempted investors within the meaning of Art. 17, para. 2: a. foreign states and central banks; b. Swiss collective investment schemes as per Art. 7 of the CISA; c. foreign collective investment schemes as per Art. 119 of the CISA; d. foreign social insurance institutions; e. foreign occupational pension institutions; f. foreign life insurance companies subject to foreign regulations providing for supervision equivalent to that of the Confederation; g. foreign companies whose shares are listed on a recognized stock exchange and their consolidated foreign affiliates.

Foreign social insurance institutions are deemed to be those institutions that perform the same tasks as the Swiss institutions mentioned in Art. 13, para. 5, and are subject to supervision equivalent to that of the Confederation.

Foreign occupational pension institutions are deemed to be those institutions: a. that serve old-age, survivors, and disability pensions; b. whose funds are permanently and exclusively allocated to occupational pensions; and c. that are subject to supervision equivalent to that of the Confederation.

The securities dealer is considered a contracting party if they underwrite the securities at the time of their issuance.

If the securities dealer acquires the securities from another securities dealer as a sub-participant and places them during the issuance, they are exempted from the portion of the duties that concerns them.

The securities dealer is also considered a contracting party if they issue documents relating to sub-participations in claims arising from loans.

If, at the conclusion of a transaction involving securities, one of the contracting parties is a foreign bank, a foreign broker, or a central counterparty within the meaning of the Financial Market Infrastructure Act of 19 June 2015, the half-duty applicable to this contracting party is not owed. The same applies to securities acquired or delivered as consideration by an exchange during the exercise of standardized derivative products.

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Any entity that, in the state of residence of an individual, is subject to state authorization or supervision and exclusively fulfills the declaration obligations and tax obligations related to the assets that this individual holds in Switzerland is exempt from the transfer stamp duty on transactions related to these assets.

The negotiation right expires thirty days after the end of the quarter during which the tax claim arose (Art. 15).

The duty applies to the payment of premiums for insurance: a. that are part of the Swiss portfolio of an insurer subject to the supervision of the Confederation or of a Swiss insurer with a public law status; b. concluded by a Swiss policyholder with a foreign insurer that is not subject to the supervision of the Confederation.

Payments of premiums are not subject to the duty for: a. non-redeemable life insurance as well as redeemable life insurance where the premium payments are periodic; the Federal Council shall define the necessary boundaries by ordinance; [tab] a bis. life insurance, provided that such insurance serves occupational pension schemes within the meaning of the LOB; [tab] a ter. life insurance contracted by a policyholder domiciled abroad; b. health and disability insurance; c. accident insurance; d. goods-in-transit insurance; e. insurance against damage to agricultural land and crops caused by natural forces; f. unemployment insurance; g. hail insurance; h. livestock insurance; i. reinsurance; k. insurance of aircraft and ship hulls, as described in the ordinance, primarily used for professional transport of persons and goods abroad; l. insurance against fire, theft, glass breakage, water damage, credit insurance, machinery and jewelry, if the taxpayer proves that the insured item is located abroad.

The tax claim arises at the time of payment of the premium.

The duty calculated on the net cash premium amounts to 5%; for life insurance, it amounts to 2.5%.

Taxpayers are required, for each branch of insurance, to include in their accounts the taxable premiums and the exempt premiums.

The tax obligation falls upon the insurer. If the insurance has been concluded with a foreign insurer (Art. 21, let. b), the Swiss policyholder is obliged to pay the duty.

The duty is due thirty days after the end of the quarter during which the tax claim arose (Art. 23).

For the determination of duties, the actual clauses of the documents or legal acts are applicable; inaccurate denominations or expressions used by the concerned parties are disregarded. If the decisive facts for the tax obligation or the calculation of the duties cannot be ascertained with certainty, they must be reconstructed based on an official assessment of the findings made.

If the amount determining the calculation of the duty is expressed in foreign currency, it must be converted to Swiss francs at the time the tax liability arises (Art. 7, 15, 23). If the parties have not agreed on a fixed conversion rate, the calculation shall be based on the average between the bid and ask rates on the last business day preceding the emergence of the tax liability.

Interest on arrears is due, without formal notice, on the amount of the duty as soon as the deadlines set in Arts. 11, 20, and 26 have expired. The Federal Department of Finance sets the interest rate.

The tax claim is subject to a statute of limitations of five years from the end of the calendar year in which it arose (Art. 7, 15, 23).

The limitation period does not run, or it is suspended, as long as the tax claim is subject to a guarantee or deferment, or as long as none of the persons liable for payment are domiciled in Switzerland.

The limitation period is interrupted whenever a person liable for payment acknowledges the tax claim and whenever an official act aimed at recovering the claim is brought to the attention of a person liable for payment. With each interruption, a new limitation period begins to run.

The suspension and interruption have effect with respect to all persons liable for payment.

For the execution of the present act, the Federal Tax Administration (FTA) issues all necessary instructions and makes all necessary decisions that are not expressly reserved to another authority.

The tax authorities of the cantons, districts, circles, and communes, as well as the Federal Tax Administration (FTA), shall provide assistance in the performance of their duties; they must freely exchange appropriate communications, furnish necessary information, and allow each other access to official documents.

The administrative authorities of the Confederation, as well as the authorities of the cantons, districts, circles, and communes other than those mentioned in para. 1, are obliged to provide information to the FTA if the requested information could be important for the implementation of this Act. Information may only be refused if significant public interests oppose it, particularly the internal or external security of the Confederation or the cantons, or if providing the information would significantly hinder the authority requested in fulfilling its duties. The secrecy of postal, telephone, and telegraph communications must be preserved.

Disputes concerning the obligation to provide information that is incumbent upon the administrative authorities of the Confederation are resolved by the Federal Council; disputes concerning the obligation to provide information incumbent upon the authorities of the cantons, districts, circles, and communes are adjudicated by the Federal Supreme Court if the cantonal government has rejected the request for information (Art. 120 of the Federal Supreme Court Act of 17 June 2005).

Organizations entrusted with tasks related to public administration are, within the scope of these tasks, subject to the same obligations regarding information as the authorities. Para. 3 applies by analogy.

For the fulfillment of the tasks assigned to it under this law, the FTA manages an information system. This system may contain sensitive data concerning significant administrative or criminal sanctions in tax matters.

The FTA and the authorities referred to in Art. 32, para. 1, exchange data that may be useful for the performance of their tasks. The authorities mentioned in Art. 32, para. 2 and 4, communicate to the FTA data that may be important for the execution of this law.

Data is communicated either on a case-by-case basis, in the form of lists, or on electronic data carriers. They may also be made accessible through a retrieval procedure. This administrative assistance is free of charge.

Personal data and equipment used, such as data carriers, software programs, and documentation concerning these programs, must be protected from unauthorized manipulation, alteration, destruction, and theft.

The Federal Council may issue implementing provisions concerning, in particular, the organization and management of the information system, the categories of data to be collected, data access and processing permissions, data retention, archiving, and destruction.

Anyone responsible for the implementation of this Act or called upon to assist in its execution is required, with respect to other official services and private individuals, to maintain confidentiality regarding what they learn in the course of their duties and to refuse access to official documents.

The duty of secrecy does not apply: a. when it is a matter of providing the assistance stipulated in Art. 32, para. 1, or complying with the obligation to report punishable acts; b. with respect to judicial or administrative bodies that have been authorized by the Federal Council generally or by the Federal Department of Finance in a particular case to request official information from the authorities responsible for the implementation of this Act.

Any person subject to stamp duties under this law is required to register with the Federal Tax Administration (FTA) without waiting to be invited to do so.

The taxpayer must, upon the due date of the duty (art. 11, 20, 26), submit the prescribed statement to the FTA, along with the necessary supporting documents, without waiting to be invited, and simultaneously pay the amount of the duty.

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The taxpayer must conscientiously inform the Federal Tax Administration (FTA) about all facts that may be important for determining the liability or the calculation bases of the duty; in particular, they must: a. completely and accurately fill out tax returns and declarations, as well as questionnaires; b. keep their books carefully and produce them, at the request of the authority, along with supporting documents and other records.

Disputing the tax liability does not exempt from the obligation to provide information.

If the obligation to provide information is contested, the FTA issues a decision.

Persons (especially banks, notaries, and fiduciaries) who are involved in the establishment or capital increase of a company must conscientiously provide the Federal Tax Administration (FTA), upon its request, with all facts that may be relevant for determining liability or calculating the issuance duty.

If the obligation to provide information is contested, Art. 35, para. 3, is applicable.

The AFC supervises the fulfillment of the obligation to register as a taxpayer; it also supervises the statements and payments of duties.

The AFC may, for the purpose of clarifying the facts, examine on-site the taxpayer's books, supporting documents, and other records.

If it is found that the taxpayer has not fulfilled their legal obligations, they must be given the opportunity to explain the discrepancies noted.

If the dispute cannot be resolved, the AFC issues a decision.

The findings made during an inspection according to para. 1 or 2 at a bank or savings institution as defined by the Federal Banking Act of November 8, 1934, at the Swiss National Bank, or at a central mortgage bond institution may only be used for the application of stamp duties. Banking secrecy must be respected.

The Federal Tax Administration (FTA) issues all decisions necessary for the collection of stamp duties; it particularly issues a decision: a. when the tax claim or joint liability is contested; b. when, in a specific case, it is asked, provisionally, to officially determine the tax liability, the basis for calculating the duty, or the joint liability; c. when the taxpayer or the person jointly liable does not pay the duty owed as per the statement.

Decisions of the Federal Tax Administration (FTA) can be contested by filing a claim within thirty days following their notification.

The claim must be addressed in writing to the FTA; it must contain precise conclusions and indicate the facts that motivate it.

If the claim has been validly filed, the FTA shall review its decision without being bound by the conclusions presented.

The claims procedure continues, notwithstanding the withdrawal of the claim, if there are indications that the contested decision is not in accordance with the law.

The decision on the claim must be reasoned and indicate the means of appeal.

As a general rule, the procedure for collection and claims is free of charge.

Regardless of the outcome of the procedure, the costs of investigations may be charged to the party who caused them through their own fault.

The Federal Council may prescribe the execution of the procedures provided for by this Act via electronic means. It shall determine the modalities of such execution.

When a procedure is executed electronically, the Federal Tax Administration (FTA) ensures the authenticity and integrity of the transmitted data.

When a document, for which a signature is required by law, is submitted electronically, the FTA may recognize, in place of the qualified electronic signature, another form of electronic confirmation of the data by the taxpayer.

If, after a formal demand, the debtor does not pay the duties, interest, and costs, enforcement proceedings are initiated; the filing of the claim in bankruptcy is reserved.

If the tax claim has not yet been determined by a final decision and is disputed, its final allocation does not occur as long as a final decision is lacking.

The FTA may request securities for duties, interests, and costs, even if they have not yet been determined by a final decision or have not yet fallen due: a. when recovery appears to be at risk; b. when the debtor of the duty does not have domicile in Switzerland, or makes arrangements to abandon domicile in Switzerland or to be removed from the commercial register; c. when the debtor of the duty is in default or has been repeatedly in default of payment.

The request for securities must indicate the legal reason for the guarantee, the amount to be guaranteed, as well as the office that receives the securities. If the request for securities is based on para. 1, let. a or b, it constitutes a sequestration order within the meaning of Art. 274 of the Federal Law of April 11, 1889, on Debt Collection and Bankruptcy; opposition to the sequestration order is excluded.

The FTA's requests for securities may be appealed to the Federal Administrative Court.

The appeal against requests for securities does not have a suspensive effect.

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Articles 66 to 69 of the Federal Act of December 20, 1968 on Administrative Procedure apply by analogy to the revision and interpretation of the decisions of the Federal Tax Administration (FTA).

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Anyone who, intentionally or through negligence, to their own advantage or that of a third party, evades stamp duties owed to the Confederation or obtains, in any other manner, for themselves or a third party, an illicit tax benefit, is liable for tax evasion. If the penal provision of Art. 14 of the Federal Law of 22 March 1974 on Administrative Criminal Law is not applicable, they may face a fine of up to 30,000 francs or up to triple the evaded duty or illicit benefit if that triple exceeds 30,000 francs.

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Anyone who, intentionally or negligently, endangers the collection of duties: a. by failing to fulfill the obligation to declare oneself as a taxpayer, to submit declarations, statements, and listings, to provide information, and to produce books, records, and supporting documents; b. by providing inaccurate information or concealing important facts in a declaration, statement, or listing, in an application for exemption, refund, deferral of payment, or waiver of duties, or by presenting inaccurate supporting documents to substantiate important facts; [tab] c. by providing inaccurate information as a taxpayer or as a third party required to provide information; d. by violating the obligation to regularly maintain and preserve books, records, and supporting documents; e. by making it more difficult, preventing, or making impossible the regular execution of an examination of books or other official audits; or f. by falsely declaring oneself as a securities dealer or by failing to withdraw such a declaration after being removed from the register of securities dealers, shall incur a fine of up to 20,000 francs if one of the criminal provisions of Articles 14 to 16 of the Federal Act of 22 March 1974 on Administrative Criminal Law is not applicable.

In case of an offense as defined in para. 1, letter e, the criminal prosecution pursuant to Article 285 of the Swiss Criminal Code is reserved.

Anyone who fails to comply with a condition upon which a particular authorization depends, or who violates a provision of this law or its implementing ordinance, the general instructions issued based on such provisions, or a decision communicated to them under the threat of the penalty provided for in this article, shall be liable to a fine of up to 5,000 francs.

Negligent conduct is also punishable.

The Federal Act of 22 March 1974 on Administrative Criminal Law is applicable; the Federal Tax Administration (FTA) is the competent administrative authority for prosecution and adjudication.

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Effective upon the entry into force of this Act, the following are repealed: a. the Federal Act of 4 October 1917 on Stamp Duties; b. the Federal Act of 15 February 1921 concerning the Remission of Stamp Duties and the Deferral of their Collection; c. the Federal Act of 24 June 1937 Supplementing and Amending the Federal Legislation on Stamp Duties.

Provisions that have ceased to be in force shall remain applicable, even after the entry into force of this Act, to claims that have arisen, facts that have occurred, and legal relationships that have been formed before this date.

The Federal Council shall enact the necessary implementing provisions.

The Federal Council shall set the date of entry into force of this Act. Date of entry into force: July 1, 1974; Articles 21 to 26: January 1, 1975