Tax-cutting trend also drawing to a close in Switzerland
The era of declining top tax rates for companies and private individuals is over, not only in OECD and EU countries but in Swiss cantons, as well. That is one of the findings presented in KPMG’s current Swiss Tax Report 2013.
Sluggish M&A market in the first quarter
After impressing last year, the Swiss M&A market has had a sluggish start to 2013. In the first quarter, both the number and volume of mergers and acquisitions fell sharply, with no major deals being struck.
Fraud: Executives cause greatest damage
In Switzerland both the number of cases as well as the total loss incurred as a result of white-collar crimes dropped slightly in 2012 compared to the previous year. A strong increase was seen, however, in the total loss caused by management staff.
KPMG result on a par with previous year
With revenues practically on a par with the previous year (CHF 429.4 million, -0.1 percent), KPMG Switzerland defied the difficult market environment and achieved a robust result.
M&A market robust despite uncertainties
In spite of the fragile economic situation, the number of mergers and acquisitions involving Swiss companies only declined slightly during the first half of 2012.
Private banks forced to focus
An international study carried out by KPMG and the University of St. Gallen shows that a high level of regulatory and cost pressure is forcing private banks to adopt new business models and clear client segmentation.
Strong M&A activity in a volatile market
KPMG’s “M&A Yearbook Edition 2012” reveals that the number of mergers and acquisitions in Switzerland during 2011 increased by 20.6% to 316 (2010: 262 deals). At the same time, the overall volume of the transactions declined by 14.9% to USD 74.5 billion.
Top personal tax rates remain stable worldwide
As KPMG’s most recent Individual Income Tax and Social Security Rate Survey shows, only 15 percent of the 96 countries surveyed worldwide have made changes to their rates of income tax.
M&A activity highest since first half of 2008
Swiss M&A activity continued to grow in 2011. According to figures published by KPMG and the University of St. Gallen, the first half of the year brought an increase in both the number and the value of transactions compared to the first half of 2010.
KPMG supports the ETH Risk Center
KPMG, together with leading financial services providers and companies from other industries, supports the foundation of the “ETH Risk Center.”
Profile of a fraudster
KPMG investigated 348 cases of fraud in over 69 countries in a broad-based study. The copious amounts of data gathered over the course of this study made it possible to draw up an average profile of a fraudster.
KPMG strengthens its presence in Basel
KPMG and some 80 employees in Basel are moving into new office facilities on Viaduktstrasse. The additional space and excellent access to public transportation lay the foundation for targeted improvements to the firm’s presence in Basel.