Switzerland

US Tax Reform: no breaking but some further news for Swiss groups

A much anticipated tax reform framework was released last week. It serves now as a template for the tax-writing committees of the House and Senate, whereby the details need to be elaborated by these committees. The Framework can thus be viewed as an important but small step on a long, uncertain journey that doesn’t necessarily end in 2017.
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Country-by-country reporting adopted and in force 1 December 2017

On 29 September 2017 the Federal Council adopted the Ordinance on the International Exchange of Country-by-Country Reports (CbCR) of Multinationals. The Ordinance will come into force on 1 December 2017.
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Factors disrupting the Swiss real estate investment market

If a market is being influenced by outside factors, disruptions are bound to arise eventually. Influential factors of this nature can be triggered by tax incentives and have also been observed in connection with the elimination of banking secrecy and capital market interventions. KPMG surveyed investors and appraisers about the Swiss investment property market.
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Swiss VAT rate reduced as of 1 January 2018

Swiss voters said no to the reform of the pension scheme. As a result, Swiss VAT rates will be reduced. Taxable persons must be ready as of 1 January 2018 - a very short deadline.
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A lack of radical change hits Swiss private banks’ performances

Analyzing the performances of 85 of Switzerland’s 114 private banks produces a bleak picture. Almost every key performance indicator (KPI) deteriorated in 2016 – sometimes significantly. The vast majority of banks have not taken the action needed to reverse their decline.
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Tax Proposal 17 – Start of consultation procedure

On 6 September, the Federal Council submitted a recommendation for the Tax Proposal 17 for consultation. Stefan Kuhn offers an overview and critical look at the relevant content of the proposed reform.
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