Proposal: a satellite account for commodity trading

Read the PDF edition (2 pages)

The measurement of commodity trading would benefit from being complemented by a satellite account, an instrument of the national accounts that makes it possible to isolate a cross-cutting activity, such as tourism or health, by bringing together the data of all the branches that contribute to it.¹ A satellite account for commodity trading would combine the value added of traders in the strict sense, that of the trading functions of integrated companies, and that of financing, inspection, chartering, insurance and advisory services, together with the corresponding jobs and tax revenue, by canton. It would give a picture of the cluster that neither the statistics of the Federal Statistical Office, nor those of the National Bank, nor the estimates of the umbrella organisations provide.

Such an undertaking would require the cooperation of the statistical offices, the traders and the banks, as well as funding that the Confederation and the cantons concerned, Geneva, Zug, Vaud, Ticino and Zurich, could share. It would be of political interest: the debates on taxation, sanctions, transparency and competition between financial centres, which run through this book, would then be conducted on a common basis. Geneva, which hosts 58 per cent of Swiss commodity trading, would have the most to gain.

Notes

Swiss Tourism Federation, page “Création de valeur du tourisme suisse” (Value creation of Swiss tourism) based on the FSO tourism satellite account (stv-fst.ch): gross value added of tourism of CHF 19.6 billion in 2022 (provisional figures) and 166,627 full-time equivalents, or 3.9 per cent of jobs in Switzerland; accommodation, catering and transport generate 68.8 per cent of tourism value added. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

Proposal: a satellite account for commodity trading

Notes

Setting up or expanding in Switzerland?