The world’s highest innovation country, Switzerland

In the Global Innovation Index 2016 Switzerland keeps its top position throughout the last six years and also approves its well-known fame of “The world’s highest innovation country”. This ranking is based on a survey of the innovative capacity of more than 100 countries according to 82 indicators of innovation, such as R&D investment, number…

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Swiss Federal Council adopts dispatch on automatic tax information exchange

The Swiss Federal Council adopted the dispatch on the introduction of the automatic exchange of financial account information with the eight states and territories including Japan, and submitted it to Parliament for approval. The proposal met with widespread approval in the consultation. This includes Norway, Guernsey, Jersey, the Isle of Man, Japan, Canada and the Republic…

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Agreement on tax information exchange

Almost 100 countries including Switzerland and Japan has declared to adapt the new global standard for the automatic exchange of information(AEOI), which aims to inhibit cross- border tax evasion. As this regulation will apply to all, it allows for an equal basis in the competition between financial centers, and is a crucial tool to combat…

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The Davos meeting to shed light on the fourth industry revolution

The 46th World Economic Forum (WEF) will take place in Davos from January 20 to 23 under the title “Mastering the Fourth Industrial Revolution”. The fourth industrial revolution: Intelligent robots and drones, automated driving vehicles, 3D printers and smart production lines are all in motion. The meeting will specifically address the potential, limitations as well…

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Switzerland tops world ranking of business talent, Japan marked 27th

According to a study conducted by the leading global business school IMD, Switzerland has been named the best in the world for business talent out of 61 nations, amongst which Japan ranked 27th. The report reveals that Switzerland has the leading position in developing, attracting and retaining talent to satisfy needs of companies. The top…

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Japan: Exit tax targets wealthy Japanese residents moving abroad

On December 30, 2014, the ruling Liberal Democratic Party and its coalition partner, New Komei Party, agreed on the 2015 Tax Reform Proposal, which includes the introduction of a tax on certain residents in Japan moving abroad. Such a rule would prevent wealthy individuals from moving to a location where taxes are low (or no…

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Japan becomes top foreign creditor for U.S.

Japan overtook China in February as the biggest creditor to the U.S., regaining the place it last held at the beginning of the fiscal crisis in 2008. In the U.S. Treasury report released on 15 April 2015, at the end of February Japan held $1.2244 trillion of U.S. debt, vs. China’s $1.2237 trillion. The third…

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Swiss National Bank (SNB) abandons currency ceiling

Switzerland’s central bank is discontinuing its currency “ceiling” of CHF 1.20 per EUR, introduced in the middle of the eurozone crisis, and has significantly lowered interest rates, lowering the deposit rate to -0.75 per cent. The minimum exchange was introduced after the eurozone crisis triggered immense inflows into what is considered one of the world’s safest…

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Swiss National Bank (SNB) introduces negative interest rates

The Swiss National Bank (SNB) has taken its deposit interest rate into negative territory for the first time since the 1970s to deter safe-haven buying and curb its strengthening currency. Commercial banks will be charged a rate of 0.25pc on their cash-like deposits with the SNB from January 22 – the date of the European…

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