Tribune de Genève.
Last Wednesday, Bern received nearly CHF 320 million from Paris. This money relates to taxes paid by French residents working in Switzerland. Every year, France deducts taxes from cross-border workers and forwards an agreed amount to Switzerland.
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The payment was late and should have been made by 30 June 2015. When Eveline Widmer-Schlumpf met with the French finance minister Michel Sapin at the IMF meeting in Lima in early October she reminded him of the late payment. 2013’s payment was even later. It was received on Christmas eve.
Now Bern will make payments to the cantons. Vaud will receive CHF 102 million, Basel-City CHF 77 million, Neuchâtel CHF 55 million, Basel-Lande CHF 47 million and Jura CHF 24 million. Bern, Valais and Solothurn will get CHF 7, CHF 5 and CHF 4 million respectively. There is no payment to Geneva because there, the canton of Geneva deducts the tax directly.
With Swiss franc returns in negative territory (7-year Swiss government bonds had a negative yield of -0.38 percent in September 2015), late receipt doesn’t come with much of a financial cost.
Full Tribune de Genève article (in French)
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