Archive – Banking & Fintech

“We do not want to protect tax criminals”

This content was published on Jun 18, 2009 In an interview with swissinfo.ch, Roth said he hopes the US and Switzerland will agree to a revised double-taxation treaty that reflects the standards of the Organisation for Economic Co-operation and Development (OECD) model tax convention. Bankers in Switzerland say that secrecy is not the industry’s only selling point. But as the government renegotiates double-taxation…

Government unveils new stimulus package

This content was published on Jun 17, 2009 The cabinet on Wednesday called on parliament to approve three-fold measures worth SFr750 million ($688 million) that aim to meet the challenges of rising unemployment and higher health insurance premiums. A first stimulus package of SFr1.5 billion was announced in November last year, and a second of more than SFr700 million followed in March. “The…

Government wants new stimulus package

This content was published on Jun 17, 2009 The cabinet decided the money was needed for measures in 2010 to ease rising unemployment, the economics ministry said on Wednesday. Unemployment is expected to go above five per cent next year. One measure is to set aside money to create temporary jobs for the long-term unemployed in non-profit organisations, and for specialised work in…

Delaware: tax haven or just “advantageous”?

This content was published on Jun 17, 2009 Thousands of companies here do nothing other than allow their owners to avoid paying taxes in other jurisdictions. Welcome to Delaware, one of the United States’ onshore tax refuges. As US President Barack Obama pursues offshore jurisdictions like the Cayman Islands, Luxembourg and Switzerland – all accused of helping people and companies avoid US taxes…

UBS suggests giving IRS anonymous client data

This content was published on Jun 16, 2009 The Internal Revenue Service (IRS) has been seeking information on 52,000 UBS account holders in an effort to find tax cheats. UBS has so far refused to release the information because it would violate Swiss law. But during a conference call last week between US District Court Judge Alan Gold and lawyers from the IRS…

US must chase disappearing dollars, critics say

This content was published on Jun 16, 2009 It is the latter that most directly affects Switzerland’s institutions. As the US continues to accrue an elephantine debt, the hunt for missing money has led some ideological rivals to find common ground. J.D. Foster, a senior fellow and tax policy specialist at the Heritage Foundation, a conservative think tank in Washington DC, sympathises with…

Aid agencies make case against banking secrecy

This content was published on Jun 16, 2009 With a meeting in Berlin among the Organisation for Economic Co-operation and Development (OECD) unfolding later this month, aid organisations from Switzerland, Luxembourg and Austria united on Tuesday to argue the benefits behind an automatic exchange of banking data. Groups including Alliance Sud, an association of Swiss development agencies, say that wealthier nations should provide…

Unions say executives creating “wage cartel”

This content was published on Jun 15, 2009 The wage gap between high and low earners expanded by 72 per cent in the past seven years, Travail Suisse noted in a report released on Monday. Not adjusted for inflation, average management salaries in major companies has leapt by 83 per cent since 2002 while nominal wages went up by 8.4 per cent in…

Secret banking wins libertarian friends in US

This content was published on Jun 15, 2009 They are two of the US’s abating breeds – civil libertarians and fiscal conservatives – and inasmuch as President Barack Obama has taken a more conciliatory foreign policy than his predecessor, the niceties have not trickled down to tax evaders and their enablers. That’s an unlucky development for Switzerland but not much of a surprise.…

Business lobby paints bleak economic outlook

This content was published on Jun 15, 2009 The Swiss Business Federation, economiesuisse, predicted economic growth would drop to -2.9 per cent for 2009 and -0.8 per cent in 2010, with prices staying relatively stable. Unemployment rates could reach four per cent on average in 2009 and 5.3 per cent in 2010. The group said the financial crisis would hit the economy and…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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“We do not want to protect tax criminals”

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Government unveils new stimulus package

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Government wants new stimulus package

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Delaware: tax haven or just “advantageous”?

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UBS suggests giving IRS anonymous client data

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US must chase disappearing dollars, critics say

More

Aid agencies make case against banking secrecy

More

Unions say executives creating “wage cartel”

More

Secret banking wins libertarian friends in US

More

Business lobby paints bleak economic outlook

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