The legislative roadmap released by the Vaud Council of State on 1 November 2017 confirms a substantially reduced corporate tax rate of 13.79% in the canton of Vaud as of 1 January 2019, irrespective of the Federal Tax Proposal 17 currently under way.
The Ways and Means Committee of the US House of Representatives released a legislative text last week. This text represents the most significant step towards tax reform in over 30 years and begins the first official phase of the tax reform process.
Under MiFID II, financial institutions providing both execution and research services must price and supply them separately (i.e. unbundled). As the separately supplied research service is subject to 7.7% VAT, the new rule will impact Swiss businesses providing or receiving research services.