Tag Archives: Personal finance

24 Heures. On Monday the franc went as low as 1.0825 to the euro, the lowest since early December last year. © Yulan | Dreamstime.com According to some experts, the weaker franc can be partly explained by the market activities of the Swiss National Bank (SNB). The cantonal bank of Thurgau said that the SNB appeared to be targeting a weaker franc ahead of the Dutch elections on Wednesday. Adding that they think an exchange rate of around 1.085 against the euro is possible. At the same time,...

The Economist magazine placed Switzerland first in a recent ranking of currency manipulators. According to the analysis, China, commonly thought of as the world’s champion at keeping its currency’s value artificially low, appears to be doing the opposite: actively trying to push the value of its currency up. On the other hand, Switzerland that has been working hardest to artificially devalue its money. © Ginasanders | Dreamstime.com Every six months America’s Treasury looks at a country’s...

The Economist magazine placed Switzerland first in a recent ranking of currency manipulators. According to the analysis, China, commonly thought of as the world’s champion at keeping its currency’s value artificially low, appears to be doing the opposite: actively trying to push the value of its currency up. On the other hand, Switzerland that has been working hardest to artificially devalue its money. © Ginasanders | Dreamstime.com Every six months America’s Treasury looks at a country’s...

© Elxeneize | Dreamstime.com - Click to enlarge 24 Heures. According to the bank Raiffeisen, if rents had followed the path prescribed in the Swiss Code of Obligations, they would be much lower. Their figures show that changes in interest rates have not flowed through to renters. If rents had fallen in step with mortgage interest rates they would be 40% lower than they are currently. The bank’s report stated that while...

24 Heures. According to the bank Raiffeisen, if rents had followed the path prescribed in the Swiss Code of Obligations, they would be much lower. © Elxeneize | Dreamstime.com Their figures show that changes in interest rates have not flowed through to renters. If rents had fallen in step with mortgage interest rates they would be 40% lower than they are currently. The bank’s report stated that while rents have been going up landlords’ costs have gone down significantly. A representative from...

In Switzerland, those who own the home they live in must add imputed rent to their income when calculating their income tax. This means owner-occupiers are taxed for living in their own homes, an odd concept for some who are new to Switzerland. © Ronnie Wu | Dreamstime.com In addition to paying tax on imputed rent, home owner-occupiers can deduct maintenance and mortgage interest costs from their taxable income. For many the overall income-tax effect of home ownership is positive. Imputed...

© Ronnie Wu | Dreamstime.com - Click to enlarge In Switzerland, those who own the home they live in must add imputed rent to their income when calculating their income tax. This means owner-occupiers are taxed for living in their own homes, an odd concept for some who are new to Switzerland. In addition to paying tax on imputed rent, home owner-occupiers can deduct maintenance and mortgage interest costs from their...

Currently, anyone ordering something from outside Switzerland, must pay Swiss Post an administrative charge if their package attracts import tax (duty and/or VAT). In addition, they must pay Swiss Post an additional CHF 13 if the parcel needs to be opened, usually because the package has been poorly labelled. © Denis Linine | Dreamstime.com Swiss Post has a contract with Swiss customs to process packages coming into the country. Yesterday, Switzerland’s upper house (Council of States) agreed...

Currently, anyone ordering something from outside Switzerland, must pay Swiss Post an administrative charge if their package attracts import tax (duty and/or VAT). In addition, they must pay Swiss Post an additional CHF 13 if the parcel needs to be opened, usually because the package has been poorly labelled. © Denis Linine | Dreamstime.com Swiss Post has a contract with Swiss customs to process packages coming into the country. Yesterday, Switzerland’s upper house (Council of States) agreed...

Switzerland’s public price watchdog chief, Stefan Meierhans, also know as “Mr Price”, has taken aim at high Swiss drug prices. A report published last week shows prices of generic drugs are nearly 2.4 times more expensive in Switzerland compared to the average price across 15 european countries. Generic drugs in the Netherlands cost 8% of what they cost in Switzerland. Anyone arriving in Switzerland from the UK will be...