Tag Archives: 3) Swiss Markets and News

© Zsv3207 | Dreamstime.com This week, Switzerland’s government set a date for the introduction of more generous tax deductions for childcare. From 1 January 2023, parents will be able to deduct up to CHF 25,000 per child in childcare costs from their annual taxable income, reported RTS. Currently, the maximum is CHF 10,100 per child. The change is the result of a new law that was created in autumn last year. Only external expenses incurred for the care of children...

© Bekirugur Bekir Ugur | Dreamstime.com In October 2021, Switzerland’s government created a law requiring online streaming services to pay money into a Swiss cinema fund. Under the law, from 2024, streaming services such as Netflix and Disney+ will need to pay a levy equivalent to 4% of their Swiss turnover into the fund, which would be spent on producing Swiss films. A group of young politicians objecting to the 4% surcharge on streaming services decided to organise...

Olivier Santi, managing director of Dakar’s Outarde Bank, says there is no doubt that Swiss experience is a “label of quality” within the banking world. ©SWI/Pauline Turuban After working in finance in Geneva for 15 years, Olivier Santi emigrated to Dakar in 2017 to head a new bank founded by one of Senegal’s richest businessmen. His career to date demonstrates both the central role Switzerland plays in the finance and raw materials sectors, and the vitality of West...

Thomas Kern/swissinfo.ch Despite the demise of many antiquarian bookshops in Switzerland, the trade is alive and well in the Alpine country. Dealers in Geneva, Basel and Zurich give a glimpse into this exclusive business, where a gentleman’s code still rules. Thomas Kern was born in Switzerland in 1965. Trained as a photographer in Zürich, he started working as a photojournalist in 1989. He was a founder of the Swiss photographers agency Lookat Photos in 1990....

Philomena Colatrella has been the chief executive officer of CSS Insurance since 2016. Switzerland has the second-lowest score for female CEOs, the study found.​​​​​​ Fabian Biasio The proportion of women in leading positions at major European companies rose slightly last year but progress is slow, according to a new study that compares 19 countries. Switzerland was ranked near the bottom of the 2021 “Gender Diversity Index”. Female representation at board level in...

All-time record for Swiss Post: it processed more than 200 million parcels last year. Keystone/Laurent Gillieron The state-owned Swiss Post processed a record number of parcels last year, but the downward letter mail continued. Parcel deliveries increased by 9.6% to 202 million in 2021, according to the state-owned company. “This rise is due to the boom in online retail, which has been driven in part by Covid restrictions and working from home,” it said on Tuesday....

Game changer? Baillod’s tourbillon watch has already made waves in the watch community Baillod Entrepreneur Thomas Baillod has just launched a “Swiss Made” tourbillon watch for under CHF5,000 ($5,450), a marketing coup which shows that mid-range watches still have a place in a watch industry increasingly focused on ultra-luxury. Patented in 1801 by Abraham-Louis Breguet, the tourbillon still fascinates lovers of fine mechanical watchmaking. The mechanism, a small...

Credit: Zoonar Gmbh / Alamy Stock Photo The number of new electric cars sold in Switzerland continues to accelerate – even faster than predicted, according to the Touring Club Switzerland (TCS) car association. My specialty is telling stories, and decoding what happens in Switzerland and the world from accumulated data and statistics. An expatriate in Switzerland for several years, I have also worked as a multimedia journalist for the Swiss national broadcaster....

Convicted fraudster Dieter Behring standing outside a Swiss courthouse during his trial in 2016. © Keystone / Ti-press / Pablo Gianinazzi Administrators clearing up a CHF800 million ($877 million) collapsed pyramid scheme have managed to recover just CHF12.7 million from one of Switzerland’s largest fraud cases. Financier Dieter Behring ripped off 1,700 investors between 1998 and 2004External link with a scam that promised oversized financial returns. Instead, it...

Many company executives are attracted by the scenery, high paying jobs and low tax rates offered in Switzerland. © Keystone / Christian Beutler Swiss Finance Minister Ueli Maurer has hinted that cantons might lower income taxes for well-heeled executives as the country braces for the impact of a minimum corporate tax rate. Speaking to the NZZ am Sonntag newspaper, Maurer said cantons are discussing the idea of reducing upper rates for high earners. As in many...