The coronavirus spread around the world at a pace and magnitude that nobody expected. Within a short timeframe societies in Europe and worldwide stood still – with dramatic impact on supply chains and companies.
Companies are still in crisis mode as they prioritize business continuity and employee protection, while also managing supply shortages and client demand. Such extraordinary situations bring companies to their limits. While the focus now is on minimizing the negative impacts, companies will have to deal with the tax and transfer pricing consequences of the crisis once things get back to normal. Companies are advised to consider those implications early to avoid further issues in the aftermath of the crisis and be better prepared going forward.
Swiss multinational companies should consider the following three aspects.