Federal cabinet proposes bank bonus pay curbs

29th April 2010, Comments 0 comments

The Swiss government issues proposals to parliament to rein in excessive pay for bank and insurance company bosses, with a requirement to treat bonuses above two million francs as taxable corporate profit rather than a deductible expense. The measures, which do not go far enough for many MPs, also call for salary restrictions at firms that receive government bailouts and a change in the way stock options are taxed.

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