Archive – Banking & Fintech

British tax hike forces McDonald’s to Geneva

This content was published on Jul 13, 2009 The American burger giant is the most prominent in a line of companies to move away from London after Britain announced it would introduce more stringent taxes for profits earned on intellectual property rights abroad. Earlier this year, international publishing group Informa, relocated to Geneva to take advantage of favourable tax conditions and Switzerland’s growing…

Delay requested in UBS tax hearing

This content was published on Jul 12, 2009 The US Justice Department suit is seeking to force UBS to hand over details of up to 52,000 secret bank accounts suspected of being used by Americans to avoid taxes. The proceedings presided over by judge Alan Gold are scheduled to start in a Miami federal court at 9am local time (1pm GMT). However, a…

Swine flu jab not ready before October

This content was published on Jul 11, 2009 Claire-Anne Siegrist, president of the Federal Vaccination Commission, told a Saturday newspaper that the anti- H1N1 infection jab would be available in October at the earliest. “It is not too late, but it’s after the first pandemic flu wave which could occur in September,” the Geneva professor told the French-speaking Le Temps. The Swiss government…

Will Zurich experience a flight of wealth?

This content was published on Jul 10, 2009 Cantons as far afield as Graubünden and Geneva say they have received enquiries from some disgruntled well-heeled Zurich inhabitants but nearby Zug and Schwyz are expected to take the lion’s share of defectors. At the end of 2008, 201 wealthy individuals on so-called lump-sum taxation deals contributed some SFr25 million ($23 million) to the canton’s…

Swine flu pandemic expected by the autumn

This content was published on Jul 9, 2009 The Federal Health Office said it had struck a deal with two international pharmaceutical companies for 13 million doses of vaccine to mitigate the impact of the pandemic. There are about ten new cases of H1N1 infection reported in Switzerland every day and health officials expect the rate to increase markedly after the holiday season.…

Taxation agreement revised with Britain

This content was published on Jul 9, 2009 On March 13 the government decided to relax Swiss banking secrecy laws to fall into line with regulations set by the Organisation for Economic Co-operation and Development (OECD). This would permit the exchange of customer information with other countries in individual cases where a specific and justified request has been made, according to the government.…

Bankruptcies set to climb to record high

This content was published on Jul 9, 2009 Dun and Bradstreet (D&B), a provider of credit information on companies, said 2,455 firms had gone bankrupt, 32 per cent more than during the same period last year. The number of insolvencies was particularly high in May and June, climbing 51 per cent and 70 per cent respectively compared with 2008. Small traders, hotels and…

Swiss takes over Southampton football club

This content was published on Jul 9, 2009 Liebherr, who runs the Mali Group consortium of companies specialising in transport technology, stepped in at the 11th hour to stop administrators winding up the club. Liebherr told BBC radio that he would restructure the club that won the 1976 FA Cup and enjoyed a 27-year run in the English top division until 2005. “We…

Judge asks Washington to respond in UBS case

This content was published on Jul 9, 2009 The US Justice Department is seeking the identity of up to 52,000 secret accounts at UBS suspected of being used by Americans to avoid taxes. US district judge Alan Gold, who is set to preside over a hearing on Monday of a suit seeking to force UBS to provide the information, asked specifically on Wednesday…

Luxembourg leaves OECD grey list

This content was published on Jul 8, 2009 The Organization for Economic Co-operation and Development (OECD) bumped Luxembourg onto a “white list” of cooperative countries after the government there signed 12 double-taxation accords with other states. The bilateral agreements are designed to facilitate the exchange of information in international tax matters. At a G20 meeting in April, the OECD ruled that 30 countries,…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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British tax hike forces McDonald’s to Geneva

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Delay requested in UBS tax hearing

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Swine flu jab not ready before October

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Will Zurich experience a flight of wealth?

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Swine flu pandemic expected by the autumn

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Taxation agreement revised with Britain

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Bankruptcies set to climb to record high

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Swiss takes over Southampton football club

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Judge asks Washington to respond in UBS case

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Luxembourg leaves OECD grey list

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