Switzerland fears impact of minimum corporate tax rate
Switzerland may have to find alternative ways to welcome foreign companies to Switzerland. Keystone / Peter Klaunzer
This content was published on April 27, 2021 - 09:00
April 27, 2021 - 09:00
Matthew Allen
When not covering fintech, cryptocurrencies, blockchain, banks and trade, swissinfo.ch s business correspondent can be found playing cricket on various grounds in Switzerland - including the frozen lake of St Moritz.
swissinfo.ch
The looming shadow of a global minimum corporate tax rate could threaten Switzerland’s status as a hub for multinational company headquarters.
The United States says that no country should tax companies less than 21%, a proposal that has added momentum to talks over a worldwide minimum corporate tax rate. The average corporate tax rate among Swiss cantons currently stands at around 15%, according to KPMG.
Are Swiss banks really chopping environmental devastation from trade financing?
Construction of an oil pipeline through an area of cloud forest: The Oleoducto Crudo Pesado pipeline, completed in October 2003, transports between 390,000 and 450,000 barrels of crude oil per day from the from the Ecuadorian Amazonian to Esmeraldas on the coast. Dr Morley Read
As awareness of the Amazon rainforest’s role in balancing the global climate builds, banks financing Switzerland’s important commodity trading sector are starting to re-evaluate the environmental impact of their business.
This content was published on March 15, 2021 - 09:00
March 15, 2021 - 09:00
Paula Dupraz-Dobias in Geneva
In February, BNP Paribas, once the world’s leading trade finance provider, announced it would no longer financeExternal link companies that produce or trade beef and soybeans originating from land cleared in the Amazon after 2008.
Are Swiss banks really chopping environmental devastation from trade financing? swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.