![]() ![]() ![]() Password managers also remove the mental challenge usually associated with creating near-uncrackable passwords by generating and storing them for you. Geneva has proposed a corporate tax rate of 13 percent for both foreign and domestic income, compared with a current rate of around 24 percent for firms not qualifying for special rates.īut lowering rates would greatly reduce cantons’ income from corporate tax and could prompt a domino effect, as neighbouring cantons are forced to follow suit to remain attractive.And yet, the humble password manager is the tool of choice to manage our every increasing number of passwords.Įvery computer or phone user has hundreds of login and password combinations and attempting to remember all of them is near impossible, especially when for services you registered for a while back and hardly used ever since. Swiss cantons could also lower standard tax rates. Gaillard said Switzerland would look closely at the design of other licence boxes used in the EU and was considering a broad model that would include income from items such as brands. ![]() ![]() While licence boxes would be suitable for cantons like Basel, home to drug makers Roche Holding AG ROG.VX and Novartis AG NOVN.VX, the model may be less practical for cantons like Geneva, base for many trading companies with little income from intellectual property. One proposal is to introduce “licence boxes” allowing income from intellectual property to be taxed at lower rates, already used in EU members such as Luxembourg, Belgium, Cyprus and Britain. Gaillard said Switzerland’s priority was to come up with alternative models that would be accepted by the EU, even if these may come under pressure from the OECD later on. Switzerland has been under fire from the EU since 2005 for allowing its cantons, or states, to compete to attract multinationals’ business by taxing foreign profits at a lower rate than domestic earnings, a practice known as “ring fencing”.īrussels has given the Swiss a June 21 deadline to come up with alternatives if it wants to avoid sanctions, which could include blacklists and damage Switzerland’s relationship with its most important trading partner. “We compete for the same companies as Amsterdam, Brussels or London, so we should have similar solutions,” finance department director Serge Gaillard told Reuters in an interview in his Berne office. BERNE (Reuters) - Switzerland is considering corporate tax incentives as offered by countries like Belgium, Britain and the Netherlands as it bows to European Union pressure to scrap its own controversial tax breaks. ![]()
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