IMF Staff Country Reports Switzerland : Selected Issues-continued

June 18, 2018--TAXATION OF CORPORATIONS IN SWITZERLAND1
A. Introduction
1. The Swiss government is proposing a major tax reform, primarily of the corporate income tax (CIT). On March 21, 2018, the Swiss Federal Council made a proposal to reform the CIT (known as 'Tax Proposal 17'), after the rejection of a previous reform plan ('Corporate Tax Reform III') in a popular vote in February 2017.
It is foreseen that Parliament will decide on the reform this year.

According to the current schedule, the major part of the reform could enter into force in 2020 at the earliest.2

2. The substance and timing of the proposed reform were triggered by international developments in corporate taxation. In particular, Switzerland is committed to meet international minimum standards of the CIT set out in the G-20 OECD Base Erosion and Profit Shifting (BEPS) project, including Action item 5 on "countering harmful tax practices more effectively, taking into account transparency and substance". Existing preferential tax regimes in Switzerland no longer conform to these international standards. Further, the Council of the EU, in its December 2017 conclusions, included Switzerland in the group of cooperative countries, subject to the successful delivery of its commitments ('grey list').3

view the IMF Staff Country Reports Switzerland : Selected Issues

Source: IMF


Europe ETP News
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Theresa May poised to open the way for delaying Brexit
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Sustainability pays off. Eurex is the first exchange to offer sustainable ESG futures
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Finance industry wins a two-year break on EU benchmarks law
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Synthetix Launches 'Synthetic' Bitcoin on Ethereum Blockchain
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New iShares ETFs on Xetra: US Government Bonds and E-mobility Companies
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The UK Financial Conduct Authority (FCA) Reports A 480% Increase in Data Breaches
February 25, 2019--The number of breaches reported by financial institutions has increased dramatically:
"The number of data breaches reported by UK financial services firms to the Financial Conduct Authority (FCA) increased 480% in 2018, to 145 up from just 25 in 2017", shows research from RPC, the City-headquartered law firm
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FCA says Mifid II to cut investor costs by 1bn Pounds
February 25, 2019-- New EU rules on the funding of investment research are set to deliver £1bn in savings for UK fund investors over the next five years, the Financial Conduct Authority has said.
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BlackRock expands thematics range with electric vehicle and driving technology ETF
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New EU low-carbon benchmarks boost for sustainable investment
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Monday Morning Memo: European Investors Shy Further Away From Mutual Funds in January 2019
February 24, 2019--The negative trend with regard to fund flows in Europe continued in January, even as the securities markets showed a rebound. As a consequence, January was the ninth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows.
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Theresa May is said to face calls to quit after Brexit
February 23, 2019--Theresa May must resign as British prime minister and Conservative leader later this year after delivering Brexit, according to politicians at the highest levels of her own government.
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B-Hive Europe launches a Fintech Landscape Report, B-Lens, together with Roland Berger and Sirris
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New Vanguard ETFs on Xetra: Investment Grade Government and Corporate Bonds
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Account of the monetary policy meeting of the Governing Council of the European Central Bank
February 21, 2019--Held in Frankfurt am Main on Wednesday and Thursday, 23-24 January 2019
1. Review of financial, economic and monetary developments and policy options
Financial market developments
Mr Cœuré reviewed the latest financial market developments. In the first few weeks of 2019 volatility had remained elevated across different market segments, in particular in equity and commodity markets.
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Deutsche Borse increases transparency in ETF trading
February 21, 2019--New key indicator provides information on trading costs over the course of the trading day
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Forecasts for the UK economy: February 2019
February 20, 2019--A comparison of independent forecasts for the UK economy in February 2019.
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EBA publishes Consumer Trends Report for 2018-19
February 20, 2019--The European Banking Authority (EBA) published today its Consumer Trends Report for 2018 and 2019. The Report covers the trends and issues related to retail banking products and services that fall within the EBA's consumer protection mandate, such as mortgages, consumer credit, deposits, payment accounts, payment services and electronic money.
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ETFGI reports ETFs and ETPs listed in Europe gather US$9.79 billion during January 2019
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WisdomTree appoints director of Research Fixed Income
February 19, 2019--WisdomTree has expanded Fixed Income Research and Strategy team with the appointment of Lidia Treiber as director of Research in Europe.
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BNP Paribas launches 'socially responsible" credit ETF
February 19, 2019--The index-tracking fund looks to exclude companies based on their ESG credentials
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Vienna Stock Exchange calculates new CEE Blue Chip Benchmark "Eastern Europe Traded Index"
February 19, 2019--With the "Eastern Europe Traded Index" (EETX) index family Vienna Stock Exchange today launches six new indices. The EETX focuses on the 40 largest blue chips of the Russian, Central, Eastern and Southeastern European markets.
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ESMA supervision to focus on data, Brexit and cybersecurity in 2019
February 19, 2019--The European Securities and Markets Authority (ESMA) has published today its 2019 Supervision Work Programme, which details the main areas of focus for the upcoming year for ESMA's supervision of Trade Repositories (TRs), Credit Rating Agencies (CRAs), and the monitoring of third-country market infrastructures such as third-country central clearing counterparties (TC-CCPs) and third-country Central Securities Depositories (TC-CSDs).
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Retail investors at risk in Brexit dual-listing tussle
February 19, 2019--Brussels does not plan to recognise London venues if UK leaves EU abruptly next month
Brussels' plan to restrict trading in shares listed both in London and elsewhere in the EU in the event of a hard Brexit will deliver a blow to retail investors, asset management groups have warned.
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Euro area investment fund statistics: fourth quarter of 2018
February 19, 2019--In the fourth quarter of 2018 the outstanding amount of shares/units issued by investment funds other than money market funds was €10,990 billion, €667 billion lower than in the third quarter of 2018.
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Official Statistics: Database of forecasts for the UK economy
February 19, 2019--We've compiled independent forecasts for the UK economy since 1986. This database includes forecasts of key economic indicators from those publications
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Big asset managers cut research costs at higher rate
February 18, 2019--Large asset managers have been more successful than smaller rivals at controlling costs in the wake of new European rules on research...
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MiFID II research rules 'hitting sector coverage and quality'
February 18, 2019--A cut in spending on research by fund managers, caused by MiFID II rules, could be leading to poorer coverage of some sectors of the equity market, surveys of the industry have found.
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ESMA to recognise three UK CCPs in the event of a no-deal Brexit
February 18, 2019--The European Securities and Markets Authority (ESMA) has today announced that in the event of a no-deal Brexit, three central counterparties (CCPs) established in the United Kingdom (UK)-LCH Limited, ICE Clear Europe Limited and LME Clear Limited-will be recognised to provide their services in the European Union (EU).
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