Switzerland levies an issuance stamp duty of 1% on the creation and increase of equity of Swiss corporations in excess of one million francs. This tax on the capitalization of companies is known as &#8222;capital tax&#8220; and has in most European countries long disappeared. It is perceived as one of Switzerland&#8217;s disadvantages in international tax competition since it impedes the raising of equity and places a financial burden on companies. Start-ups, which are mainly financed by capital increases in the founding years, are particularly affected.
Today, the Assembly of the Federal Parliament resolved to abolish the issuance stamp duty. This resolution goes back to a parliamentary initiative of the Liberal Democratic Party in 2009. Already in 2013, the National Council has approved the abolition of the issuance stamp duty. However, the preliminary bill was subsequently suspended by the Council of States. After a group of experts with representatives from the Federal government, cantons, business and science recommended the abolition of the issuance stamp duty in December 2020 and the Federal Council also expressed a positive opinion, the Council of States has now also approved the proposal.
The abolition of the issuance stamp duty would result in annual revenue losses of around CHF 250 million for the Federal government in the short term. However, it is expected that these would be more than offset in the medium to long term by the positive effect on the economy.
The abolition of the issuance stamp duty could in principle come into force on January 1, 2022. However, the Social Democratic Party has announced that it will launch a referendum. It is expected that the required 50,000 signatures will be collected and that a popular vote will take place. Accordingly, the Swiss people should ultimately decide. Such a popular vote is not likely to take place until 2022, so that the entry into force of the abolition of the issuance stamp duty is likely to be delayed.

Abolition of the 1% Issuance Stamp Duty

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ADC Therapeutics

Homburger News

20250619_ADC Therapeutics

Homburger advised ADC Therapeutics SA on its USD 100 m Private Placement of Common Shares and Pre-Funded Warrants

On June 12, 2024, ADC Therapeutics SA (NYSE:ADCT), a commercial-stage biotechnology company headquartered in Switzerland, announced the private placement of 13.0 m common shares and pre-funded warrants to purchase 15.7 m common shares, raising aggregate gross proceeds of USD 100 m.
The Homburger team was led by Daniel Häusermann (Corporate / M&amp;A, Capital Markets) and included Bianca Nedwed and Estelle Piccard (both Corporate / M&amp;A, Capital Markets) as well as Stefan Oesterhelt and Philippe Weber (both Tax).

Competition

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On May 6, 2025, Samaplast AG, a privately held Swiss company, announced that 100% of its shares had been acquired by a group of investors led by Philipp Looser. Samaplast is a leading specialist in the field of plastics processing for medical technology and industry.
The Homburger team advising the selling shareholders was led by Daniel Häusermann (Corporate / M&amp;A) and included Matthias Müller (Corporate / M&amp;A), Allegra Arnold (Competition), Philippe Weber (Tax) and Leon Indov (Corporate / M&amp;A). Marcel Dietrich acted as senior relationship partner.

Homburger advised the selling shareholders on the sale of 100% of Samaplast AG to a group of investors led by Philipp Looser

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Homburger for Biotronik

20250311_Biotronik

Homburger advises BIOTRONIK on sale of VI Business to Teleflex

On February 27, 2025, BIOTRONIK Group announced that it has entered into an agreement to divest its Vascular Intervention (VI) business division to Teleflex Incorporated. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close before the end of the third quarter of 2025.
BIOTRONIK is a Berlin-based global leader in medical technology and a pioneer in cardiovascular, endovascular, and neuromodulation solutions. Teleflex (NYSE: TFX) is a Pennsylvania-based leading global provider of medical technologies with a diverse portfolio, including solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care.
Homburger acts as Swiss transaction counsel to BIOTRONIK. The team includes Andreas Müller, Anna Peter, Jasmin Künzle, Romain Hondius, Oliver Kneubühl and Cédric Berger (all Corporate / M&amp;A), Richard Stäuber and Angelika Murer (both Regulatory), Luca Dal Molin and Philippe Baumann (both IP / IT), Stefan Gäumann (Real Estate), Jeremy Reichlin and Angela Casey (both Employment and Executive Compensation), as well as Reto Heuberger and Philippe Weber (both Tax).

Philippe
Weber

Homburger advised ADC Therapeutics SA on its USD 100 m Private Placement of Common Shares and Pre-Funded Warrants

Homburger advised the selling shareholders on the sale of 100% of Samaplast AG to a group of investors led by Philipp Looser

Homburger advises BIOTRONIK on sale of VI Business to Teleflex

Abolition of the 1% Issuance Stamp Duty

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Philippe Weber

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PhilippeWeber

Homburger advised ADC Therapeutics SA on its USD 100 m Private Placement of Common Shares and Pre-Funded Warrants

Homburger advised the selling shareholders on the sale of 100% of Samaplast AG to a group of investors led by Philipp Looser

Homburger advises BIOTRONIK on sale of VI Business to Teleflex

Abolition of the 1% Issuance Stamp Duty

Join the Team

Philippe Weber

Career

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Bar Registration

Teams

Philippe
Weber