Tax

Retroactive elimination of banking secrecy in Austria

The tax treaty between Switzerland and Austria entered into effect on 1 January 2013 and the corresponding treaty between Liechtenstein and Austria entered into effect one year later. These treaties provide for the taxation and reporting of current investment income by banks in Switzerland and Liechtenstein to Austria.
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Possible Grexit: Impact of indirect taxes to businesses

News have spread that the banks in Greece were closed today and Greece has imposed capital controls to prevent a financial chaos…Economists describe scenarios in which the drachma is reintroduced, and then inflated…
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Corporate Tax Reform III – a great chance for Switzerland

The dispatch of the CTR III represents the next step in one of Switzerland’s most important legislative projects of the next few years. The measures proposed go in the right direction, but shall be further amended to sustainably secure the competitiveness of Switzerland. KPMG held a webcast explaining the proposed measures and their implications.
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Corporate Tax Reform III ready for parliamentary deliberation

Today, the Federal Council adopted the dispatch on the Corporate Tax Reform Act III. The reform aims to strengthen Switzerland as a business location, focusing on innovation, value creation and jobs. The proposed measures are compatible with the current international standards and will increase legal and planning certainty for companies.
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Is an Indian PAN still required?

An Indian Tax Tribunal has recently held that a taxpayer – making payments to recipients that did not have a PAN (Permanent Account Number) – correctly applied the withholding tax rate according to the double taxation treaties but not as per domestic law. However, PAN regulations are still in force.
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Greece to introduce voluntary disclosure program

On 27 May 2015 the Greek Minister of Finance submitted to a public debate a project of law for a “Program of Voluntary Disclosure of Capital and Investments and for Tax Compliance”.
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