Credit Suisse: ups 2018 tax rate guidance
(CercleFinance.com) - Credit Suisse raised its 2018 tax rate guidance due to the adverse impact of a US regulation called "the Base Erosion Anti-Abuse Tax (BEAT).
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On Wednesday the Swiss investment bank said that the tax rate for 2018 would be estimated at approximately 40%, up from 38.9% for the third quarter of 2018 and 36.8% for the first nine months of the year.
Regarding 2019, Credit Suisse's latest assessment is that US regulations will also result in an adverse impact, with an estimated tax rate of 30% for 2019.
Shares of Credit Suisse were broadly flat in morning trading on the Zurich Stock Exchange on Wednesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
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On Wednesday the Swiss investment bank said that the tax rate for 2018 would be estimated at approximately 40%, up from 38.9% for the third quarter of 2018 and 36.8% for the first nine months of the year.
Regarding 2019, Credit Suisse's latest assessment is that US regulations will also result in an adverse impact, with an estimated tax rate of 30% for 2019.
Shares of Credit Suisse were broadly flat in morning trading on the Zurich Stock Exchange on Wednesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.