Search Results for: Switzerland

World football’s governing body FIFA – Fédération Internationale de Football Association – has claimed it is the victim following the arrests of 14 officials in Zurich on May 27, before its latest annual congress. The Office of the Attorney General of Switzerland (OAG), which made the arrests for its US counterpart, also announced it had opened its own separate case.…

EUROPEAN dairy producers are keen participants in the European Union (EU) protective systems that prevent competitors from claiming to sell products made using traditional production methods and ingredients. The systems: PDO (protected designation of origin); PGI (protected geographical indication); and TSG (traditional speciality guaranteed) promote and protect names of quality agricultural products and foodstuffs.…

The global confectionery and sweet bakery sectors have been hit hard by California’s worst ever drought, lasting since 2011, which has devastated its critically important production of the key ingredient almonds. The result has been scarcity and rising prices for this nut, worldwide
Sylvia Kälin, head of corporate communications for Lindt & Sprüngli, in Switzerland, said the shortage has helped increase the price of chocolates that include almonds, at a time when cocoa prices are also rising: “Even if we always attempt to counter— at least partially— these challenges with ongoing increases in efficiency and volume, this challenging situation may possibly result in further price increases on the side of the chocolate industry,” she told Confectionery Production.…

THE EUROPEAN Commission has proposed a European Union (EU) directive that would force EU member states to automatically share information about their tax rulings. Under the proposals, national tax authorities would every three months send a short report to all other member states on all their cross-border tax rulings.…

Pakistan has launched disputes proceedings at the World Trade Organisation (WTO) signalling it wants to challenge countervailing duties imposed by the European Union (EU) on Pakistani exports of certain polyethylene terephthalate (PET). In an unusual case brought by Pakistan against the EU, Islamabad is arguing that the European Commission mishandled an investigation prompting EU ministers to impose protective measures, compensating European PET-makers for Pakistan government tax breaks and subsidies.…

THE ONWARD march of nonwovens production in Europe appears to be relentless, but the drivers behind it have changed in recent years. Early markets for disposable products have matured and levelled off in many countries and newer applications have taken up the slack.…

The Russian Federal Financial Monitoring Service (Rosfinmonitoring), Moscow’s financial intelligence unit (FIU), has singled out individual and commercial customers using Russian banks from 41 countries for special transactions reports. Among these countries on the “blacklist” are the U.S., Canada, the European Union (28 states), Australia, Norway, Iran, Syria, Sudan, New Zealand, Argentina, Mexico Switzerland, North Korea and Zimbabwe.…

Despite Paraguay’s past difficulties in effectively fighting money laundering, the country has been introducing new regulations to boost its controls; however their reforms’ implementation have been hampered by lack of political will.
Located between Argentina and Brazil, Paraguay is a key country in the struggle against money laundering and financing of terrorism in South America because its porous border is used by drug cartels to smuggle drugs, among other illicit items, into the two region’s biggest markets for cocaine and marijuana.…

INDIAN tax authorities are pushing their Swiss counterparts to disclose financial details of Indian nationals with accounts at HSBC Switzerland.
The Swiss Federal Tax Administration has written to HSBC, listing individuals the Indian tax authorities have identified as potentially evading tax, telling the bank to ask these clients to appoint representatives, usually lawyers, in Switzerland, a spokesman for the tax administration told Fraud Intelligence. …

EXPORTERS of liquid milk and associated products to the European Union (EU) will have to work harder to secure sales in future from April 1, with the EU finally scrapping its production quotas from that date. They may also have to fend off new tough competition from EU exporters in their domestic markets.…