hidden distribution of profits from Company A to its sole shareholder. He then makes an allowance to
Company B.° This example shows that one single transaction can be in scope of both direct and indi-
rect tax like the Swiss Withholding tax, stamp duty and income tax. While there is a de minimis
threshold set in Art. 305" Criminal Code, there is no such threshold in Art. 14 para 4 VStrR, leading
to the filing of a suspicious activity report (SAR) based on Art. 14 para 4 VStrR, and thus annihilating
the threshold of CHF 300'000 according to Art. 305" Criminal Code. Point 2 of the interpretive note
to FATF recommendation 3 seems to be implemented.
The conditions of the definition according to Art. 3 point (4) (f) of the 4" AMLD are irrelevant for
Switzerland, since it is not a member to the EEA. As a result for Switzerland, points 2 and 5 of the
interpretive note to FATF recommendation 3 seem to me implemented.
It will be interesting to see how the effectiveness of the Swiss implementation of FATF recommenda-
tion 3 will be assessed during the next FATF mutual evaluation. The next mutual evaluation will not
take place soon due to the fact that the onsite visit of the 4^ round of mutual evaluations has just taken
place in February and March 2016.
5 Example taken from Francesco Naef / Michele Clerici, Steuerstraftaten als Vortaten der Geldwäscherei: Der
Weg in la Terreur, in: Jusletter of April 7, 2014.
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