Accounting Requirements for Swiss Companies: A Practical Overview
What every Swiss GmbH and AG must do to stay compliant with Swiss accounting standards, the Code of Obligations, and tax filing obligations.
The Legal Framework
Swiss accounting requirements are governed by the Swiss Code of Obligations (OR 957-963), which sets out mandatory bookkeeping, financial reporting, and record-retention obligations for all companies registered in the commercial register. Regardless of size, every Swiss GmbH and AG must maintain proper books of account that accurately reflect its financial position, produce annual financial statements, and retain records for ten years. These are not optional — the commercial registry and tax authorities have the right to request them.
Obligations by Company Size
Micro-enterprises (balance sheet under CHF 500,000, turnover under CHF 1 million, fewer than 10 employees) may maintain simplified accounts — essentially a cash-in/cash-out statement plus an asset and liability schedule. Small companies can use accrual-based accounting with limited notes. Larger companies (exceeding two of three thresholds: CHF 20 million balance sheet, CHF 40 million turnover, 250 employees) must produce full financial statements including a management report, cash flow statement, and detailed notes. Most international-founder companies fall into the micro or small category and benefit from streamlined requirements.
Annual Financial Statements
Every company must prepare annual financial statements within six months of the financial year-end. These comprise: a balance sheet, an income statement (profit and loss), and notes to the accounts. The statements must be approved by the shareholders' meeting (GmbH) or general meeting (AG) and, if the company exceeds size thresholds, audited by a licensed external auditor. Even where a full audit is not required, a "limited statutory examination" (eingeschränkte Revision) applies unless the company has fewer than 10 employees and all shareholders consent to an opt-out.
Tax Filings and Deadlines
Swiss companies file annual tax returns at both federal and cantonal level. The filing deadline is typically between six and nine months after the financial year-end, with extensions routinely available. The tax return includes the statutory financial statements, a tax reconciliation showing adjustments between accounting profit and taxable profit, and various schedules for items like depreciation, provisions, and related-party transactions. Cantonal tax rates vary significantly — from approximately 11.9% (Lucerne) to 21% (Geneva) for corporate income tax — making canton selection an important strategic decision.
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