International tax competition and competition between business locations have changed fundamentally. Switzerland is coming under increasing pressure as key instruments of its existing location policy have lost effectiveness. A new legal opinion by Prof. Dr Robert J. Danon and Prof. Dr Pascal Hinny shows how Switzerland can restore its tax attractiveness by making use of the new international framework and strengthening tax incentives for research, development and innovation in a targeted manner.

As the consultation period on the preliminary draft of the Federal Act on Sustainable Corporate Governance (VE-NUFG) comes to a close, SwissHoldings is issuing a statement on the Federal Council’s indirect counterproposal to the new Corporate Responsibility Initiative. The association supports further development of regulations in the area of sustainable corporate governance but rejects the preliminary draft in its current form. It goes beyond international standards on several key points and would undermine Switzerland’s competitiveness as a business location.

This year’s SwissHoldings General Assembly focused on the question of how Switzerland and its multinational companies can remain successful in a world increasingly marked by geopolitical tensions. Under the title “The Rise of Power Politics – Opportunities for Switzerland in the New World Order,” high-ranking representatives from politics, administration, business, and academia discussed the changing global landscape and its implications for Switzerland as a business location. The conclusion of the discussions is clear: Switzerland needs a clear economic policy vision. Such a vision will only be effective if it is implemented with determination. 

Yesterday, the Federal Council published the amendments to the Capital Adequacy Ordinance and the dispatch on the revision of the Banking Act. SwissHoldings supports the goal of a stable financial system. At the same time, the impact on companies and the Swiss financial centre must be carefully considered. The association’s member companies are dependent on internationally competitive banks and an attractive capital market. Balanced and internationally harmonised regulation is an important locational advantage. However, the current draft goes beyond international regulatory standards and would have a negative impact on the economy as a whole.

SwissHoldings rejects the draft counterproposal to the Responsible Business Initiative published today by the Federal Council in its current form. In an economic climate that is already challenging for multinational companies, this would lead to additional regulatory burdens and new liability risks. At the same time, the proposal does not sufficiently take into account current international developments in sustainability regulation, which increasingly aim for a stronger focus on materiality and simplification. The bill in its current form would amount to a “Swiss Finish” that is detrimental to our business location.

Digital technologies offer significant opportunities to make government services more efficient and simplify administrative processes. With the increasing use of artificial intelligence, additional potential is opening up to rethink and accelerate processes – including in Switzerland. At the same time, it is becoming clear that the success of digital transformation depends not only on technological solutions, but also significantly on whether they are accepted in practice and supported by the stakeholders involved. This was discussed during the panel on reducing bureaucracy and digitalization at the first “SwissHoldings Legal Talks.”