Archive for January 17, 2012
European Tax Summit 2012
Jan 17th
TAX EXPERT International AG:
Reclaiming Switzerland’s Attractive Tax Environment
 | 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. Interview with: Richard Wuermli, Managing Partner, TAX EXPERT International AG |
FOR IMMEDIATE RELEASE
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.
Contact:
Stacey Melvin
Journalist
marcus evans, Summits Division
Tel: + 357 22 849 400
Email: press@marcusevanscy.com
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
marcus evans group – finance/insurance sector portal
The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
|
|
|
|
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.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com
CFO Summit XXIV
Jan 17th
The Commercially Attuned CFO
| Craig Omtvedt, a speaker at the marcus evans CFO Summit XXIV Spring 2012, on driving business growth by being commercially in sync. Interview with: Craig Omtvedt, Former Senior Vice President & Chief Financial Officer, Fortune Brands, Inc. |
FOR IMMEDIATE RELEASE
Chief Financial Officers (CFOs) need to be commercially attuned and think like owners in order to enhance the value proposition and help the business achieve sustainable growth with appropriate margins, says Craig Omtvedt, Former Senior Vice President & CFO, Fortune Brands, Inc. “Some CFOs are so focused on IRR that they cause the company to lose market share, which can ultimately be a death spiral,” he adds.
A speaker at the upcoming marcus evans CFO Summit XXIV Spring 2012 in Hollywood, Florida, May 17-19, Omtvedt talks about risk management and setting up the business for success by being in sync with global markets.
What is the top CFO challenge today?
The biggest challenge for CFOs today is dealing with the new normal, the dynamic of the global economy, with slow or no growth in the US and a Eurozone crisis. Companies are also trying to take advantage of opportunities in the emerging markets, which many consider as homogenous when they are the opposite. Dealing with the various challenges – the on again, off again interest of Russia in foreign investment and the demographics of China’s aging population versus India’s youthful population – are creating interesting dynamics. One size does not fit all.
How can CFOs drive shareholder value in this setting?
CFOs need to focus on the value proposition for consumers, to ensure that what is being engineered into products and new product initiatives represent features that customers are willing to pay for. Simply building the best product in the world is no longer good enough. There needs to be a dramatic outward-in focus.
What works well for mitigating risks?
The most important technique is simply having a hands-on knowledge of the business and industry, and a strong understanding of competitors. That drives good decisions. Rather than operating from the center, getting out and spending time to understand strengths, weaknesses, the risk orientation of various teams, the various global markets in which they operate, and making sure that the right risk attention is placed at the right time is key to a strong risk program.
Sometimes we see a bureaucratic or cookie cutter approach where risks are periodically weighed formulaically. That does not serve the organization well. Bureaucratic process can kill a business as fast as too little control. Here again, CFOs need to think like owners and make sure that the mitigation procedures and programs are timely, make sense and are financially viable.
Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
About the CFO Summit XXIV Spring 2012
This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 17-19, 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 presentations on improving profit margins, the evolving role of the CFO, risk management and strategically accessing capital in a turbulent market.
For more information please send an email to info@marcusevanscy.com or visit the event website
marcus evans group – finance/insurance sector portal
The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
Please note that the Summit is a closed business event and the number of participants strictly limited.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com