Swatch faces complaint over taxes

Article Abstract:

Two former executives of Swatch Group Ltd. have filed a complaint with the U.S. Department of Labor alleging that the Swiss watchmaker has evaded taxes and duties in the U.S. and several other countries. The complainants, who originally spoke out about the practice while still at the company , charge that Swatch used its Asian subsidiary to move profits out of the U.S.

Legal issues & crime, Government regulation (cont), Financial management, Government regulation, Executive changes & profiles, Asia, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Legal/Government Regulation, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Dept of Labor, Officials and employees, Company legal issue, Laws, regulations and rules, Investigations, Whistle blowing, Whistleblowing, Tax evasion, Transfer pricing, Company financing, United States. Department of Labor, Subsidiaries, divisions and units, Ede, Joseph, Phanthala, Matthieu

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Swatch sees net more than double in first half

Article Abstract:

Swatch Group S.A. reported that its first-half net profit more than doubled as worldwide demand for its products expanded. Growth is expected to continue in the second half, due to the launch of new products, payoff from infrastructure investments, and the opening of more specialist Swatch-owned stores.

Watches, Watch, Clock, and Part Manufacturing, Swatch Group S.A.

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Swatch Group AG

Article Abstract:

Swatch Group AG posted a fall of 10% in its net profits for the 2003 first half. The company posted 186 million Swiss francs (134 million euros) in net profits for the period.

Company sales and earnings, Company earnings/profit

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