| Dear Madam or Sir, On 9 June 2017, the Swiss Federal Council discussed the cornerstones of the revised corporate tax reform (Tax Proposal 17) and assigned the Swiss Federal Department of Finance to prepare a draft bill for consultation until September 2017. Moreover, the IFRS Interpretations Committee provides – for the first time – binding guidelines for the recognition and measurement of uncertain tax positions and the administrative court of St. Gallen has taken a remarkable decision on the protection of legitimate expectation in case of continued assessments. In this issue of our quarterly newsletter we will inform you about these and some further important tax developments. Tax News - Summer 2017 (full version) Sincerely,
Ernst & Young Ltd | 