SUMMARY

According to the information provided the test may be summarized as follows :

The information included in the present tool is intended as general guidance and is not represented to be comprehensive or advisory in nature. Please contact your professional tax adviser for detailed information regarding the topic contained herein

RESIDENT PERSON

The person receiving the income is a Swiss resident company

PREDOMINANT INTEREST TEST

The ultimate beneficial owners are not qualified persons in the aggregate of a predominant interest in the form of participation or otherwise

STOCK EXCHANGE TEST

The principal class of shares is not listed or is not regularly and primarly traded on one or more recognized stock exchanges

The ultimate beneficial owners of a predominant interest in the company are not one or more companies which meet the direct stock exchange test

95% SHAREHOLDER TEST

95% or more of all the shares (of the aggregate vote and value) are ultimately owned by seven or fewers persons that are qualified persons of a member state of the EU or of the EEA or a party to the NAFTA

Less than 50% of the gross income is used to make deductible payments to persons which are neither qualified persons nor US citizens

The company has outstanding a class of shares that entitles its holders to a portion of the income derived from USA that is larger than a portion such holders would receive in absent of such a class of shares

50% or more of the value (or vote, if relevant) of the previously mentioned class of shares is held by not qualified persons

ACTIVE TRADE OR BUSINESS TEST

The person is engaged in the active conduct of a trade or business in CH

The income derived by this person from USA is not derived in connection with the business activities carried on in CH

The income derived from USA is not incidental to the trade or business in Switzerland

HEADQUARTER TEST

The person receiving the income is a Swiss resident company and it is a recognized headquarters company for a multinational corporate group

The headquarters company carries out a substantial part of the overall supervision and administration of a multinational group of companies and these activities are carried out in Switzerland

The group consists of corporations which are residents of and are actively engaged in business activities carried on in at least five countries or five groups of countries

Less than 10% of the group's gross income is derived from each of the five countries or five groups of countries; or more than 50% of the group's gross income is derived from any one country other than Switzerland; or more than 25% of the group's gross income is derived from USA

The required ratios regarding the gross income are not met when averaging the gross income of the preceding four years (i.e. less than 10% of the group's gross income is derived from each of the five countries or five groups of countries; or more than 50% of the group's gross income is derived from any one country other than Switzerland; or more than 25% of the group's gross income is derived from USA)

Under these circumstances treaty protection is not granted