Sanctions against Russia – Information for affected companies

• Under which conditions are employees fleeing Ukraine allowed to work in Switzerland for a limited period of time?
• Are there any facilitated procedures for residence/work permits or visas in Switzerland (e.g. Remote Working Visa, Digital Nomad Visa, or similar)?
• What is the insurance status of Ukrainian citizens when they temporarily stay or work in Switzerland?
• Does Ukraine have a social security agreement with Switzerland?
• What are the tax consequences when employees who have fled Ukraine work in Switzerland?
• Can Ukrainian employees work in Switzerland or other EU countries even if the employer does not have a branch there?
   

Your key contact: Dennis McEvoy

Further information: Global Mobility Services

• How are currency effects from the drastic devaluation of the ruble treated for income tax purposes?
• How can costs and losses from the crisis-related severance of business relationships with Russian companies be used for income tax purposes?
• Is there a risk that the double taxation agreement between countries will be abrogated and how would my company be affected by this?
   

Your key contact: Stefan Kuhn

Further information: Corporate Tax

• Which are the goods that can be exported to Russia and under what conditions?
• With whom may business be done and what are the restrictions on payments? 
• What restrictions apply to imports from Ukraine, Russia or Belarus?
• Do additional compliance checks have to be carried out due to the new sanctions?
• What happens if the sanctions provisions are not fulfilled? 
   

Your key contact: Mathias Bopp

Further information: Trade & Customs

• What is the impact of sanctions against Russia on cross-border financing and payment flows?
• Are adjustments to the existing transfer pricing model and underlying contracts required due to war effects (e.g. the disruption of supply chains)?
• Will ongoing (advance) mutual agreement procedures (APAs and MAPs) between Russia and Switzerland continue? Can new requests be submitted at this time?
• How should it be handled from a transfer pricing perspective if business activities in the various countries have been discontinued?
   

Your key contact: Gerhard Foth

Further information: Transfer Pricing Services 

• What threats should your company be prepared for now?
• What are the implications for your cyber security strategy?
   

Your key contact: Matthias Bossardt

Further information: Cyber & Digital Risk Consulting

• How can your company respond to disrupted supply chains in the short term and what can long-term changes look like?
   

Your key contact: Christoph Wolleb

Further information: Sustainable Supply Chain

• How do I identify business relationships that fall within the scope of economic sanctions?
• What courses of action are available if economic sanctions apply to my business partners?
• How do I ensure know-your-customer checks and transaction monitoring?
• How do I protect myself against non-payment by business partners affected by economic sanctions?
• How do I recognize prohibited circumvention transactions?
   

Further information: 

Forensic consulting
KPMG Law
Cyber & Digital Risk Consulting

• Are the implications of the war and the related events adjusting or non-adjusting events?
• What disclosures might be required?
• What are the implications for the going concern assumption?
• What are the implications if there is significant doubt on the entity’s ability to continue as a going concern?
• What are the implications if the going concern basis of preparation is no longer considered appropriate?
  

Further information: Accounting Advisory Services