Swiss banks

Time to transform tax reporting?

In times of international tax transparency, being tax compliant has become more relevant than ever before. Consequently banks are focusing on tax reporting for individual clients. KPMG’s latest survey analyses how Swiss private banks answer the demand for tax reports requested by their foreign private clients.
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How Swiss private banks can reignite growth

Swiss private banks have been on the defensive for a decade. We think the time has come to go on offense through commercially-driven transformation. By focusing on their strengths, and partnering for their non-core activities, Swiss private banks have a real opportunity to maximize value and grow again.
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Swiss Federal Supreme Court considers Dutch Group Request as permissible

While the Federal Tax Administration found the Dutch group request to be permissible in fall 2015, the Swiss Federal Administrative Court on the other hand deemed it not permissible. However, upon its deliberations held on 11 September 2016, the Swiss Federal Supreme Court decided that this group request was acceptable after all.
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Guidelines as last step to implementation of the AEoI

The Automatic Exchange of Information (AEoI) will follow in Switzerland in a few months’ time. After the publication of the draft AEoI ordinance in May 2016 and the draft AEoI guidelines on 3 August 2016, the legal bases for the AEoI are complete.
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The 5 most challenging trends for Swiss private bankers

10 percent of private banks did not survive 2015. KPMG’s joint study with the University of St. Gallen finds that many banks’ efforts to adapt their business and operating models to the new environment have proven insufficient. Despite trying to turn around their performances, many banks face a stark reality - they can’t survive.
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AEoI Ordinance: a step closer to implementing the AEoI

On 18 May 2016, the Swiss Federal Council launched the consultation period on the Ordinance on the Automatic Exchange of Information in Tax Matters (AEoI). The purpose of the AEoI Ordinance is to regulate further relevant details on how the AEoI is to be implemented.
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