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Tag Archives: Personal finance

Assura to refund 30 million francs to policyholders

Switzerland’s third largest health insurer had a good year in 2018, according to recently published financial statements. Instead of holding onto all of the CHF 61.9 million profit it made last year, the not-for-profit company plans to return some of the money to policyholders between now and the end of the year. Around half of all policyholders will receive something. Policyholders in ten cantons will receive them. In Vaud each adult will get CHF 50. In Geneva they’ll get CHF 100 and in...

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A family apartment in Geneva close to twice the price of one in St. Gallen

© Rosshelen | Dreamstime.com On average, renting a 4.5 room apartment of 100 to 110 m2 costs CHF 3,820 a month in Geneva. The same apartment in the Swiss city of St. Gallen costs CHF 2,004, 52% of the price, according to a report on rents in Switzerland’s ten main cities by the price comparison website Comparis. For an apartment of this size, Geneva (3,820) is the most expensive, followed by Zurich (3,073), Lausanne...

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A family apartment in Geneva close to twice the price of one in St. Gallen

On average, renting a 4.5 room apartment of 100 to 110 m2 costs CHF 3,820 a month in Geneva. The same apartment in the Swiss city of St. Gallen costs CHF 2,004, 52% of the price, according to a report on rents in Switzerland’s ten main cities by the price comparison website Comparis. © Rosshelen | Dreamstime.com For an apartment of this size, Geneva (3,820) is the most expensive, followed by Zurich (3,073), Lausanne (2,850), Basel (2,660), Bern (2,600), Luzern (2,430), Winterthur (2,400),...

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The 3 things driving Geneva’s residents to shop in France

A recent study by Geneva’s department of economic development (DDE) looks at the shopping habits of its residents and the residents of neighbouring Vaud and neighbouring France – an area including Nyon and parts of the French Ain and Haute Savoie regions. © Viorel Dudau | Dreamstime.com Every year, the residents of this greater Geneva region spend around CHF 7.2 billion francs on consumable items in physical stores. This money is spread across personal goods (19%), garden and DIY goods (6%),...

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Switzerland’s workforce participation – Swiss versus foreigners

In 2018, 68.5% of the nation’s residents aged 15 or older was working, 1.5% more than in 2010. © Arturoosorno | Dreamstime.com This rise was largely driven by an increase in the percentage of women in the workforce. In 2010, 60.0% were working. By 2018, 62.9% were, a rise of 2.9%. On the other hand, the overall percentage of men working declined slightly (-0.1%) to reach 74.2% by 2018. Swiss versus foreignersOverall, foreigners were much more likely than Swiss to be working. In 2018, 76% of...

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Income inequality declines in Switzerland

© Eziogutzemberg | Dreamstime.com In 2016, before the effects of taxes and welfare, the highest earning 20% of Swiss households made on average 40.8 times what an average household in the bottom 20 percent made, an inequality measure known as the S80/S20. However, after taxes and welfare, including low income support, health insurance subsidies, pensions and disability benefits, the same income ratio fell to 4.4....

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Income inequality declines in Switzerland

In 2016, before the effects of taxes and welfare, the highest earning 20% of Swiss households made on average 40.8 times what an average household in the bottom 20 percent made, an inequality measure known as the S80/S20. © Eziogutzemberg | Dreamstime.com However, after taxes and welfare, including low income support, health insurance subsidies, pensions and disability benefits, the same income ratio fell to 4.4. Switzerland scores relatively well on income equality. The average S80/S20 ratio...

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Swiss Rail shares bumper profits with passengers

In 2018, Swiss Rail made a profit of CHF 568 million, 42.5% more than in 2017. Part of the rise was due to higher than average spending on maintenance in 2017. © Erix2005 | Dreamstime.com It is worth noting that Swiss Rail receives a large sum from taxpayers every year. In 2018, the company received CHF 3.5 billion of public funding, CHF 2.7 billion of it booked as income. Without this large lump of taxpayer help Swiss Rail would have made a loss of CHF 2.2 billion in 2018. One way the...

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Swiss parliament calls for more online purchases to be taxed

© Panuwat Dangsungnoen | Dreamstime.com Since 1 January 2019, companies abroad making more than CHF 100,000 in revenue must charge Swiss VAT on sales made to anyone in Switzerland. Now the Swiss government has decided to take aim at online platforms such as Aliexpress and Wish, according to the broadcaster RTS. Rather than chasing foreign companies selling products in Switzerland, Beat Vonlanthen, an MP from Fribourg,...

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Swiss parliament calls for more online purchases to be taxed

Since 1 January 2019, companies abroad making more than CHF 100,000 in revenue must charge Swiss VAT on sales made to anyone in Switzerland. © Panuwat Dangsungnoen | Dreamstime.com Now the Swiss government has decided to take aim at online platforms such as Aliexpress and Wish, according to the broadcaster RTS. Rather than chasing foreign companies selling products in Switzerland, Beat Vonlanthen, an MP from Fribourg, wants online platforms to charge and collect Swiss VAT on all items sold...

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