June 28, 2021
Refinitiv creates more choice for financial community in Switzerland
New service approved by the Swiss Federal Tax Authority to simplify reporting of financial transactions for stamp tax purposes
ZURICH – Today Refinitiv announced that it has been approved to provide a solution to support financial institutions in meeting their Swiss stamp tax obligations.
Similar to the EU financial transaction tax regulation, the Swiss Federal Tax Administration (SFTA) claims a financial stamp tax for any domestic and non-domestic securities within the scope of debenture, equity, funds and structured products. Relevant securities face a stamp tax shared between the buyer and the seller depending on the nature and jurisdiction of the instrument.
The Swiss requirements to provide data that helps firms meet their regulatory stamp tax requirements are the strictest in Europe. All data providers must be officially certified by the Swiss Federal Tax Authority and provide a full concept of understanding and implementation of the Swiss stamp tax law.
In the face of increasing regulatory challenges, Refinitiv’s pricing and reference data solution helps the financial community meeting its varied regulatory reporting requirements, with comprehensive global data across multiple asset classes.
Refinitiv’s Swiss stamp tax solution has been built with Refinitiv’s latest technology framework to make it quick and efficient for customers to access the data they need via APIs.
“We’re delighted to build on our long-term commitment to the Swiss market with this new solution, offering more diversification to the Swiss market in meeting its stamp tax obligations as simply and efficiently as possible,” says David Berbner, Head of Tax and Financial Regulation, Data & Analytics. “Our customers in Switzerland and beyond need access to comprehensive global data to power their regulatory reporting and support multiple needs across their business.”
Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With $6.25 billion in revenue, over 40,000 customers and 400,000 end users across 190 countries, Refinitiv is powering participants across the global financial marketplace. We provide information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, we connect people with choice and opportunity – driving performance, innovation and growth for our customers and partners. For more information visit: www.refinitiv.com.