IFMA : Update on Swiss Taxation in the Current International Environment

Daniel Spitz, Certified Tax Expert of DS Tax Consulting SA will present the significant changes to the Swiss tax environment, brought about by international pressure, and discuss possible scenarios. Presentation and two-course lunch. Registration and pre-

BlackRock gains Hildebrand

Philipp Hildebrand, press conference after he resigned as Swiss central bank chairman

ZURICH, SWITZERLAND – Philipp Hildebrand, former head of the Swiss National Bank, will join BlackRock, the world’s largest money manager at its office in London in October. Hildebrand, who quit his job as Switzerland’s central banker in January after questions were raised about his wife’s currency transactions, earlier accepted a post as a lecturer at […]

Irish, Swiss say no dividends taxes on pensions

BERN, SWITZERLAND – Ireland and Switzerland have agreed to a double taxation treaty, subject to the agreement of both countries’ parliaments, that will limit withholding tax to no more than 15 percent on gross dividend amounts. A crucial detail welcomed by the cantons and business associations, according to Bern, is that “there will be no […]

World bank gets HIV/Aids specialist as new head

GENEVA, SWITZERLAND – Dr Jim Yong Kim, the US candidate for president of the World Bank has been named to the post. He is currently president of Dartmouth College in the US and is well-known for his role in fighting HIV/Aids in developing countries. He takes up the job 1 July, following the resignation of […]

Best deals in town: insurance, finance, food and more

Comparis.ch is a popular Swiss internet comparison service and it’s available in English. Their latest: weekly food, wine and beer deals at major supermarkets are listed in the Special offers section. A free Smartshopper application is available for your smartphone. Comparis has long been known for its comparisons of insurances rates for health, home, cars […]

Oil imports, earthquake push Japan into 1st trade deficit in 32 years

GENEVA, SWITZERLAND – Japan has announced its first trade deficit since 1980, Y2.49tn ($32bn), with Prime Minister Yoshihiko Noda saying it will take until 2014 for a turn-around. Analysts, according to the financial press, are gloomier about Japan’s short- to mid-term prospects for avoiding a current account surplus. The savings rate in the country has been […]

Swiss central bank shows Q3 profit of CHF5.8b despite high franc

ZURICH / BERN, SWITZERLAND – The Swiss National Bank is showing a consolidated profit of CHF5.8 billion for the first nine months of the year, thanks primarily to gold prices. The profit was achieved despite an over-valued Swiss franc that caused losses of CHF4.7 billion. Other currency positions resulted in gains of CHF5 billion, giving […]

Swiss toughen sanctions against Iran

Bern, Switzerland (GenevaLunch) – The Swiss government is increasing sanctions against Iran to the same level as those put in place by its main commercial partners, the government said Wednesday morning 19 January. The tougher measures were taken to ensure that Switzerland is not used by Iran to get around the stricter sanctions put in […]

Goldman Sachs London fined for poor disclosure

The London unit of Goldman Sachs has been fined £17.5 million for failing to disclose that it was under investigation for fraud in the USA by the US Securities and Exchange Commission (SEC) in the marketing of certain collateralized debt obligations. The UK’s financial services regulator, FSA, fined the firm for controls weaknesses leading to […]

Swiss gov’t argues for 6.2% single rate VAT (TVA)

Federal budget for 2011 gets government approval Bern, Switzerland (GenevaLunch.com) – The Swiss Federal Council wants to see a single value-added tax (VAT, called TVA in French) rate of 6.2 percent, it said Thursday 24 June. An earlier plan by the ruling council for a single rate VAT, a project dear to Hans-Rudolf Merz, finance […]