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| Richard Wuermli from TAX EXPERT International AG, a sponsor company at the marcus evans European Tax Summit 2012, on benefiting from the attractive tax environment that Switzerland has to offer. |
London, Mar 22, 2012 - (ACN Newswire) - After Switzerland was placed on the Organisation for Economic Co-operation and Development's (OECD) grey list in 2009, there has been a move to make the tax environment even more attractive than before, says Richard Wuermli, Managing Partner, TAX EXPERT International AG. Businesses are now benefiting from zero rates, arbitration board clauses and a new Licence Box Rule, he adds.
From a sponsor company at the upcoming marcus evans European Tax Summit 2012, taking place in Dublin, Ireland, 26 - 27 March, Wuermli shares his views on why more European company headquarters are moving to Switzerland to take advantage of its favourable tax environment.
- How has Switzerland bounced back from being put on the OECD grey list?
Switzerland found itself under heavy attack when it was placed on the tax haven grey list in 2009. The Swiss principle of bank secrecy strictly limited any information from being shared with third parties, making it difficult to come off that list due to the information exchange clause in the double tax treaty.
Nevertheless, Switzerland signed new double tax treaties in agreement with international standards set by the OECD, and was thus removed from the list. Through this course of action, numerous benefits for businesses, including lower tax rates, the capital contribution principle and arbitration board clauses in the double tax treaties were introduced.
Although we are no longer seen as a tax haven, there are now movements to lower the tax rates even further and a new Licence Box Rule has been introduced which is very favourable to companies. There is a move to make Switzerland even more attractive than before.
- What guidance would you give regarding international mergers and acquisitions?
Many European headquarters are moving to Switzerland in order to benefit from the low tax rates for companies as well as for employees. Organisations value political stability, strong currencies and security, and that is what the country has to offer. The question arises whether there is heavy exit tax, taxation of assets relocated and moveable/immovable intellectual property rights when moving to the nation.
- How should organisations develop their transfer pricing strategies?
Respective authorities are becoming more aggressive and attacking companies on transfer pricing aspects.
Having a centralised filing system, a master file, is crucial. If an organisation were to be attacked in a certain jurisdiction, it would have easy access to all documents needed to defend its transfer policy. In many countries, an Advanced Pricing Agreement (APA) would resolve transfer pricing disputes in a cooperative manner. A best practice is to have a strong centralised filing system for all documents and contracts.
About the European Tax Summit 2012
This unique forum will take place at The Four Seasons, Dublin, Ireland, 26 - 27 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes visionary presentations and interactive forums on substantial fiscal deficits, minimising tax gaps and developing transfer pricing strategies.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.taxsummit.com/RichardWuermliInterview
The Finance Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
LinkedIn: www.linkedin.com/groups?gid=3568428&trk=hb_side_g
YouTube: www.youtube.com/user/MarcusEvansFinance
Twitter: www.twitter.com/meSummitFinance
SlideShare: www.slideshare.net/MarcusEvansFinance
marcus evans group - finance/insurance sector portal - http://tiny.cc/hfcg2b
Please note that the Summit is a closed business event and the number of participants strictly limited.
About TAX EXPERT International AG
We are a world-wide leading international tax consulting firm. Our tax expert teams reliably assist you when it comes to complex national and international tax set-ups. We develop tax strategies and concepts that are easy to be translated into practice - tailor-made for your needs. Together, we determine your success, implement solutions orientated towards the future and generate surplus value for your group of companies. For more information, visit www.taxexpert.ch.
Contact:
Stacey Melvin
Journalist
marcus evans, Summits Division
Tel: +357-22-849-400
Email: press@marcusevanscy.com
Topic: Press release summary
Source: marcus evans Summits
Sectors: Trade Shows, Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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