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).
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How does Switzerland spend its taxpayers’ money?
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After the government revealed a large surplus in Switzerland’s public finances earlier this week, we wondered how the country spends its money.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
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A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
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The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
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Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
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Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
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A listicle of ideas how to spend surplus half billion
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Money the army doesn't spend on the latest technology could instead be used on a crowd-pleasing changing-of-the-guard pageant.
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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
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Swiss government accounts closed with a surplus of CHF2.8 billion ($3 billion) for 2017, compared with a forecast deficit of CHF250 million.
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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.