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Ernst & Young Monthly News June 2008

Media

Swiss GAAP ARR 11 Taxation – Recommendations on the certification and disclosure of current and deferred income tax

(PDF, German, 314 kB)
Source: Der Schweizer Treuhänder 2008|5
Authors: Hanspeter Saner, Monika Bieri, Ernst & Young

Swiss GAAP ARR 11 contains recommendations and explanations on the certification and disclosure of current and deferred income tax. In comparison with the corresponding provisions pursuant to international accounting standards (IAS 12 and SFAS 109), these recommendations are simple and are expressed briefly and clearly.

CISA and its administrative obstacles – unexploited opportunities of the new fund legislation

(PDF, German, 93 kB)
Source: NZZ, January 30, 2008, no. 24
Authors: Jürg Müller, Sandor Frei, Ernst & Young

The new Federal Act on Collective Investment Schemes (CISA) has given the Swiss fund industry new opportunities for development. Due to difficulties experienced in its implementation and the legal uncertainty surrounding some issues, however, the potential of the new legislation has not yet been fully exploited.

Germany introduces settlement tax – effects on international investments

(PDF, German, 88 kB)
Source: Praxis Internationale Steuerberatung 5|2008
Authors: Heiko Kubaile, Dr. Christian Buck, Ernst & Young

According to the model of Austria, Germany introduces a flat rate withholding tax on private capital incomes as of 2009. In an overview about future systematics of the flat rate withholding tax, this article discloses the most important consequences for international investments.

Developments in international tax legislation

(PDF, German, 531 kB)
Source: SteuerRevue, no. 6/2008
Authors: Markus F. Huber, Fabian Duss, Heiko Kubaile, Gregor Freimoser, Ernst & Young

The new Federal Act on Regional Policy and its associated implementation ordinances came into force on January 1, 2008. In comparison to the draft ordinances which served as a basis for parliamentary debate last fall, many amendments have been incorporated in the definitive versions of the ordinances. These amendments are presented in this article.

When it comes to the security of banking data, recruitment is a cornerstone

(PDF, French, 512 kB)
Source: Le Temps, Monday, May 19, 2008
Author: Ferdinand Kobelt, Ernst & Young

Data relating to Swiss banking clients should be protected against access by unauthorized persons both inside and outside banking institutions.