The corporate tax reform, recommended by Federal Council, Parliament and 25 cantonal governments, did not find a majority in the Swiss public. The demand of companies for restoration of legal certainty and the pressure of the EU on the abolishment of the cantonal tax status continues.
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.
The partial reform of the Federal Value Added Tax Law is intended to eliminate the competitive disadvantages of Swiss companies. The changes will come into effect on 1 January 2018. Which sectors are affected, and what are the implications for foreign companies that have business activities in Switzerland?