Loans between companies and shareholders and between affiliated companies may entail tax risks if they are not granted on arm’s length terms. The first risk concerns the qualification of a loan granted by a company to a shareholder as a benefit measurable in monetary terms: in such cases, this is referred to as a simulated loan.

It is therefore necessary to understand how to properly structure a loan between a company and a shareholder and to be familiar with the criteria applied by the tax authorities, as confirmed by case law, to qualify it as simulated. Further risks arise in loans between affiliated companies: in this context too, it is essential to know the so-called “safe harbour rules” and the interest margins to be applied to intra-group financing in order to avoid tax adjustments. No less relevant is the issue of “debt push-down” in the case of an acquisition by a holding company; the Federal Supreme Court recently ruled on this matter in a significant decision.

Where, instead, there is a contribution from the shareholder to the company, it becomes essential to assess the possible existence of hidden equity, also in light of practical cases falling within this category. Finally, the tax aspects to be considered in the presence of a profit-participating loan (partiarisches Darlehen) will be addressed.

Programme and speakers
Tax risks related to simulated loans granted by companies to their shareholders
Alberto Lissi
Dr. iur., Swiss certified tax expert, attorney-at-law, Tax Partner AG, Zurich

Loans between affiliated companies: safe harbour rules and applicable interest margins
Claudio Rusconi
Business economist, tax auditor at the Corporate Tax Office of the Tax Division, Bellinzona

Debt push-down in the case of an acquisition by a holding company (“share deal”)
Thierry De Mitri
Swiss certified tax expert, CES in Management, Lausanne

Practical cases concerning hidden equity
Sebastiano Garufi
PhD, attorney-at-law, adjunct professor of tax law, Bocconi University, Milan, partner at Altenburger Ltd Legal + Tax, Lugano and Zurich

Tax aspects to be considered in the presence of a profit-participating loan
Roberto Garruso
Swiss certified tax expert, associate at RGA Conseil Sagl

Fee
CHF 350
CHF 300 for FTAF members and members of partner organisations

Registration
https://bit.ly/webinar-10-11-2026 

Registration deadline
Monday, November 9, 2026