Bern, Switzerland (GenevaLunch) – Swiss Finance Minister Hans-Rudolf Merz and his German counterpart, Wolfgang Schaeuble signed an agreement 27 October in Bern to open formal negotiations on cooperation in tax matters and improved market access by banks. They also signed a revised double taxation agreement. Germany has long criticized Switzerland’s position on bank secrecy which [...]
Tax treaty with Germany could still be signed by Merz
October 4, 2010 by
Bern, Switzerland (GenevaLunch) – The double taxation treaty between Germany and Switzerland may be signed by Federal Councellor Hans-Rudolf Merz before he steps down this month. The agreement with Germany, whose citizens hold more money in Swiss banks than those of any other nation, has led to frequent friction between the two countries, as Germany [...]
Swiss gov’t hangs in balance with Wednesday election (update)
September 22, 2010 by
Election could create first European cabinet with women in majority Complete coverage, Swiss Federal Council 2010 elections: background, Sommaruga win, Schneider-Ammann win Update 09:00 Bern, Switzerland (GenevaLunch) – The world has a rare opportunity Wednesday 22 September to see what balance of power really means, as defined by the Swiss: parliament will elect two new [...]
Swiss Federal Councillor Leuenberger to leave his post earlier than announced
August 10, 2010 by
Moritz Leuenberger sooner-than-anticipated departure will allow parliament to vote at once for two new cabinet ministers Bern, Switzerland (GenevaLunch.com) – Swiss Federal Councillor Moritz Leuenberger (above right), current Minister of Transport, Communications, Energy and Environment, is bringing forward his departure date from the Federal Council, from December to October, to allow parliament to vote for [...]
Federal Councillor Merz to step down
August 6, 2010 by
Bern, Switzerland (GenevaLunch) – Federal Councillor Hans-Rudolf Merz, a member of the seven-person executive and former President of Switzerland, has announced his resignation. He said the decision had been “difficult”. Merz has been finance minister since 2003. He came in for much criticism as president in 2009 due to the UBS scandal and its ramifications [...]
Swiss gov’t argues for 6.2% single rate VAT (TVA)
June 24, 2010 by
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 [...]
Swiss cabinet at odds over Libya hostage-freeing plans
June 22, 2010 by
Bern, Switzerland (GenevaLunch) – A hallmark of the Swiss political system, the “collegiality” of the Federal Council or ruling seven-member cabinet, is under pressure from politicians and Swiss media following disclosures about the handling of the recently resolved Libyan affair. Politicians have expressed concern about possible military involvement. Swiss military intervention abroad is strictly limited [...]
Profits up at UBS – annual meeting likely to be heated (update)
April 12, 2010 by
Update 13:30 Zurich, Switzerland (GenevaLunch) – Swiss banking giant UBS has announced that pre-tax profits for the first quarter of 2010 will reach CHF2.5 billion. The statement was made ahead of its annual general meeting, which takes place takes place 14 April. Swiss media reports Monday indicate that the meeting Wednesday is likely to be [...]
Canada, France double taxation deals move ahead (Updated 14:10)
February 15, 2010 by
Swiss Finance Minister Merz confirms no automatic data exchanges Canada initials agreement, France confirms Davos “understanding” Bern, Switzerland (GenevaLunch) – Switzerland’s push to build up its stable of bilateral tax agreements in line with OECD standards moved ahead last week. Among other moves, a new agreement with Canada was signed, the same day that a [...]
The World Economic Forum in Davos: the backdrop
January 28, 2010 by
Davos, Switzerland (GenevaLunch) – The World Economic Forum (WEF) runs from 27-31 January in the snowy Swiss resort of Davos, and, ostensibly, the leaders will be discussing the state of the world and ways to improve it. Behind the scenes, they will be networking. It isn’t every day that so many movers and shakers come [...]
