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In 2022, together, Switzerland’s cantons were expected to spend CHF 1.1 billion more than they brought in from taxes. Instead, they made a collective profit of CHF 3.5 billion, a positive delta of CHF 4.6 billion, reported RTS. Photo by Nate Hovee on Pexels.comSwitzerland collects tax at three levels: municipal, cantonal and federal. Cantonal taxes are typically the largest slice. This money covers the cost of key services such as health, education and welfare. In 2022, a total of 16...

Now that inflation has returned, so has bracket creep, a situation where inflation pushes taxable income into higher tax brackets and reduces the tax busting value of deductions. To compensate, Switzerland’s federal government announced higher deductions and higher tax brackets this week. Photo by Pixabay on Pexels.comFrom the 2023 tax year couples with two wage earners will be able to deduct a maximum of CHF 13,600 (previously CHF 13,400) each from their taxable income. For married...

[unable to retrieve full-text content]Switzerland’s four largest buildings insurers estimate the costs of recent weather events could reach half a billion francs across Switzerland, reported RTS. According to Grégoire Deiss, who works for the cantonal buildings insurer ECAB in Fribourg, the cost of recent storms and flooding could be around CHF 500 million across all of Switzerland, a figure he based on claims that have been made so far.

On 16 December 2020, Switzerland’s Council of States, the nation’s upper house, accepted a 2021 budget deeply in the red following its acceptance last week by the National Council. © Denis Linine | Dreamstime.comIn 2021, Switzerland’s federal government plans to collect CHF 75.8 billion while spending CHF 81.9 billion, plunging the budget CHF 6.1 billion into the red. The pandemic has significantly increased spending. Spending in 2021 is expected to be 8.8% higher than in 2020 and the...

A Swiss 50. What a beauty – © Hai Huy Ton That | Dreamstime.com The new 50 franc note, launched last year, was voted the best new bank note in 2016 by the International Bank Note Society, a society founded in 1961. Nearly 120 new banknotes were released worldwide in 2016. The Swiss 50 only narrowly beat the Maldive Islands 1000 Rufiyaa bill, Argentina’s 500 Peso jaguar, and the Royal Bank of Scotland’s 5 Pound first...

The new 50 franc note, launched last year, was voted the best new bank note in 2016 by the International Bank Note Society, a society founded in 1961. A Swiss 50. What a beauty – © Hai Huy Ton That | Dreamstime.com Nearly 120 new banknotes were released worldwide in 2016. The Swiss 50 only narrowly beat the Maldive Islands 1000 Rufiyaa bill, Argentina’s 500 Peso jaguar, and the Royal Bank of Scotland’s 5 Pound first polymer note. In addition to its good looks, the Swiss 50 is likely to hold...

20 Minutes. Switzerland could drop daylight savings. Currently, Switzerland’s Federal Council sees no reason to abandon it, however if Switzerland’s neighbours did it would follow, mainly for economic reasons said the Federal council. © Jibmeyer | Dreamstime.com National councilor Yvette Estermann (UDC/SVP), who is fiercely opposed to daylight saving, took the opportunity to point out the negative health consequences of changing the time every six months. The idea of daylight savings was...