KPMG Switzerland

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Annual Review 2012

Learn more about KPMG and get more insights into our developments.

Swiss Code of Conduct

KPMG's Swiss Code of Conduct outlines the ethical principles that define our business activities.
Topics
Tax agreements

All about the tax agreements with Germany, the United Kindgdom and Austria.

Double tax treaties

The interactive map of the world gives an overview of the current situation.
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Insurer

This issue considers amongst other topics the countries of Southeast Asia as a promising growth market.

The Future of Shopping

Outlook for the German and Swiss food retailing. A survey by GDI Gottlieb Duttweiler Institute and KPMG.
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The new financial reporting act

This publication gives you an overview about the coming changes regarding the new financial reporting act.

Reading and understanding annual reports

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Details

Service: Financial Services, Regulatory Services
Industry: Insurance
Type: Business and industry issue
Date: 8/29/2011

FATCA - Implication for the Swiss insurance industry

When the Foreign Account Tax Compliance Act (FATCA) was introduced, insurance industry was confident that FATCA was not an issue for them. This assumption turned out to be overly optimistic as disclosure requirements for foreign financial institutions (= financial institutions outside the U.S.) under FATCA is also relevant for insurance companies.

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FATCA - implication for the swiss insurance industry

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In the Insurance edition of our Swiss Financial Services Newsletter from December 2010, we introduced the topic FATCA and commented on Notice 2010-60. On 8 April 2011, the IRS issued new guidance with a new notice (Notice 2011-34). Unfortunately, many questions have not yet been addressed and it is not clear whether they will be resolved. A third notice from 14 July, Notice 2011-54, was also silent on significant open issues. The article “FATCA - Implication for the Swiss insurance industry - New guidance from Notice 2011-34 and 2011-54“ informs you about the latest Notice and its impact for the Swiss insurance industry.

Insurance

Our services for the insurance sector

FATCA Competence Center

FATCA was adopted by the U.S. congress as part of the HIRE Act on 10 March 2010. FATCA follows the guidelines of the “US Stop Tax Haven Abuse Act 2009” and aims primarily at preventing tax evasion by U.S. persons.

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