On the basis of figures available at the end of June, the government forecasts an additional CHF1.3 billion in revenue thanks to more withholding taxes (CHF500 million), federal taxes (CHF500 million) and value added tax (CHF200 million). The increase in tax collection was attributed to economic growth. Swiss GDP is expected to grow by 3% instead of a projected growth of 2.8%.
The government remains cautious due to large uncertainties surrounding withholding tax collection. It could still be subject to significant variations, as claims are generally filed in the second half of the year.
Projected cost savings of CHF700 million will also contribute to the budget surplus. Most of the savings are due to a decrease in social assistance to asylum seekers (CHF79 million) due to fewer claims, as well as a drop in operating expenses for federal asylum centres (CHF54 million).
More
More
How does Switzerland spend its taxpayers’ money?
This content was published on
After the government revealed a large surplus in Switzerland’s public finances earlier this week, we wondered how the country spends its money.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
A listicle of ideas how to spend surplus half billion
This content was published on
Money the army doesn't spend on the latest technology could instead be used on a crowd-pleasing changing-of-the-guard pageant.
This content was published on
Negative interest rates encouraged tax payers, particularly in the corporate world, to use up some of their spare cash to settle bills early last year. By doing so, they avoided being charged for parking their cash in bank accounts, and received an early bird bonus from the tax authorities. However, the government confirmed on Thursday…
Swiss public accounts better than expected in 2017
This content was published on
Swiss government accounts closed with a surplus of CHF2.8 billion ($3 billion) for 2017, compared with a forecast deficit of CHF250 million.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.