Ernst & Young Monthly News July 2010
Publications
Insurance |
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(PDF, German, 883 kB)
Are you planning to change the official external supervisory body responsible for checking your pension fund? Ernst & Young will carry out
the mandate for you as a supervisory body according to article 53 BVG.
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Global publications |
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(PDF, English, 5278 kB)
The European Attractiveness Survey has revealed some stark contrasts in terms of inward investment projects announced across
Europe in 2009. Europe remained in business, securing 3,303 investment projects, a modest 11% decline in project numbers.
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(PDF, English, 4200 kB)
CFOs from 75 of the world’s largest media and entertainment companies are optimistic about revenue potential from the Internet
and mobile devices in spite of declining revenues, according to Ernst & Young’s 2010 global media and entertainment CFO study.
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(PDF, English, 1916 kB)
Over 25% of drivers across US, Europe, China and Japan said they would consider purchasing plug-in hybrid (PHEVs) or electric
vehicles (EVs), as soon as they become available on the market. This survey canvassed the views of a thousand licensed drivers
in each of these regions.
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(PDF, English, 1591 kB)
Since Ernst & Young launched the first Eurozone Forecast on 16 April, developments within the Eurozone have continued to
be dramatic with ongoing debate about sovereign bonds, the future of fiscal governance and the future of the Euro itself.
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(PDF, English, 1640 kB)
Capital allocation has rocketed to the top of the risk list for mining and metals companies around the world, according
to Ernst & Young’s annual Business Risks facing mining & metals report 2010, released today.
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(PDF, English, 2904 kB)
Dealing with regulatory uncertainty is the number one risk and control challenge facing global banks, according to the
majority of senior bank executives surveyed for Recover, advance, adapt: back to business in an uncertain world, the Global
Banking & Capital Markets Center’s third annual global banking risk survey. Not surprisingly, an overwhelming majority are
also anticipating significant cost increases in the next 12 to 24 months in order to manage heightened regulatory requirements
around capital levels and ratios, re-balance portfolios and reassess market strategies.
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| Tax |
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(PDF, English, 1229 kB)
The most recent edition of the Tax Policy & Controversy Quarterly Briefing provides commentary on the various bank tax
proposals that have been announced in advance of the Toronto G20 meeting at the end of June. With individual countries
continuing to announce and implement local measures, the patchwork approach that is developing will fully test the resolve
of the global community in the coming weeks. The document, New bank taxes: assessing the shifting global landscape,is
attached below and was authored by Rod Roman, EMEIA BCM Tax Leader. We encourage you to provide this document to your clients.
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(PDF, English, 3903 kB)
Ernst & Young's Worldwide corporate tax guide assists you in deciding how to structure cross-border investments and whether
to establish a new company abroad. The guide summarizes corporate tax rules and treaty withholding tax rates in over 140 countries.
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(PDF, English, 2568 kB)
Our 2010 Worldwide VAT, GST and sales tax guide helps you understand how indirect taxes will affect your company abroad.
The guide summarizes the value added tax and goods and services tax systems in 81 countries and the European Union.
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(PDF, French, 190 kB)
A precious tool, offering a clear and precise overview on taxes in the Canton of Vaud
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(PDF, French, 202 kB)
Impôts 2010 Genève: A precious tool, offering a clear and precise overview on taxes in Geneva
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(PDF, English, 202 kB)
The so-called 10/20 non-bank lender rule may have required, in some instances, additional planning when Switzerland was
chosen as a place for intra-group financing. With more than 20 non-bank lenders, every Swiss company is deemed to have client
deposits (like a normal bank). This requires the company to levy a 35% Swiss withholding tax on all interest paid to its
lenders. With a formal hearing launched last December, the Swiss revenue authorities had lodged proposed new regulations
for discussion. On 18 June 2010, the Swiss Federal Council (Swiss Government) approved a respective amendment
of the withholding tax and stamp tax ordinances which implies that internal group interest payments will be exempted from
withholding tax. The amendment enters into force as of 1 August 2010.
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