Overpriced Swiss goods: competition commision should attack problem

BERN, SWITZERLAND – The upper house of the Swiss parliament says it wants the competition commission, Comco, to tackle the problem of goods sold for a higher price in Switzerland compared to neighbouring countries. The commission’s primary task has been to go after price-fixing cartels, but the Conseil des Etats says that the problem of […]

Cross-border workers, numbers continue to rise

TAB Basel cross border workers 081112

GENEVA, SWITZERLAND – Cross-border commuters increased by 4.8 percent in 2012, figures released by the Swiss Federal Statistical Office Monday 4 March show. About one in 10 workers in the Lake Geneva region and around Basel in northwestern Switzerland is a cross-border worker. The figure for Ticino is one in four. Eighty percent of them […]

Swiss war materials exports down 20 percent in 2012

BERN, SWITZERLAND – Swiss exports rose by 1.7 percent in 2012, but one area that was down was war materials, which fell by 20 percent, from CHF874 million to CHF700m. Germany was the main customer, followed by Saudi Arabia, Italy, the US and India. One large sale of unarmed fighter planes for training, delivered to […]

Swiss put new tax assistance law into effect (update)

Foreign governments will be able to use group requests to help find tax dodgers EU says more measures are needed, urgently, to avoid black list BERN, SWITZERLAND – The Swiss Federal Council says the new Tax Administrative Assistance Act (TAAA) will come into force 1 February 2013, noting that no referendum was called. “Consequently, group […]

Credit Suisse to shut 3 branches, cut 150 jobs in Germany

ZURICH, SWITZERLAND – Credit Suisse has now confirmed to two Swiss news agencies that it will be cutting 150 jobs out of 500 and closing three of its 12 branch offices in Germany. Staff were reportedly given the news Tuesday by the bank. The closures and cutbacks are part of a reorganization of its operations […]

Swiss firm: tax treaty talks with Germany are over

ZURICH, SWITZERLAND – Swiss politicians and bankers settled down Thursday to the fallout from the failure of a German mediation committee Wednesday 12 December to resolve a parliamentary impasse over a tax treaty negotiated with Switzerland. The treaty would  have taxed, retroactively, money held by Germans in Swiss banks, without revealing their identities. The German […]

Fourteen disabled people die in S German workshop fire

At least six in serious condition after fire in “relatively new” buildings near Freiburg GENEVA, SWITZERLAND – Fourteen people died and at least six are in serious condition, some of the 50 people believed to have been in a building swept by a fire in the town of Titisee-Neustadt, 40 km east of Freiburg, in […]

German upper house votes down Swiss-German tax treaty

ZURICH, SWITZERLAND – Germany’s Bundesrat, the upper house of parliament, has voted against the Swiss-German tax treaty, called the Rubik Agreement, which must be ratified by parliament by the end of 2012. The lower house, the Bundestag, approved the treaty earlier this year. It could now go to a mediation committee scheduled to meet 12-14 […]

Recession: it’s official in the eurozone

GENEVA, SWITZERLAND – The eurozone nations have slipped back into recession for the first time since 2009, figures published 15 November by Eurostat show. GDP fell by 0.1 percent in the 17-nation euro area and increased by 0.1% in the larger group of 27 during the third quarter of 2012, compared with the previous quarter. […]

UBS German clients’ homes reportedly raided

ZURICH, SWITZERLAND – The public prosecutor’s office in Bochum, Germany, said Monday that the homes  of a number of clients of Swiss bank UBS have been raided by tax investigators who suspect them of tax evasion or fraud. The search for documents is the result of a number of legal cases brought in two German […]