TaxPlanet Magazine | Tax, Money, Business and Economy

BLOG COMMENTS POWERED BY DISQUS
You are here: Tax & Legal Miscellaneous Switzerland | The Federal Council announces measures against excessive salaries in the financial industry

Switzerland | The Federal Council announces measures against excessive salaries in the financial industry

E-mail Print

The Federal Council instructed the Federal Department of Finance (FDF) to prepare three measures in the area of compensation practices. These target primarily the compensation practices of financial institutions.

In future, the salary systems of financial institutions that have to seek government assistance should be subject to restricted regulation. In addition, the variable salary payments that depend on company profits should be taxed as profit distribution in future. Finally, employee stock options should no longer be taxed when they are granted, but when the options are exercised. With these measures, the Federal Council is sending a signal against excessive compensation in the financial sector, which is objectionable particularly in the case of loss-making companies. The measures do not affect the freedom of contract. Competitive compensation packages will remain possible in the financial sector.

Full article ...

(Swiss Federal Department of Finance)

Tax & Legal

Business & Economy

Advertisement

No images

Money & Investing

Other Topics

BLOG COMMENTS POWERED BY DISQUS