On 12 January 2022, Switzerland’s Federal Council decided to implement the minimum tax rate for companies that was agreed by the OECD and G20 member states in 2021. The 15% minimum tax, which will be applied to large companies from 1 January 2024, will generate extra tax revenue. This week, after a degree of wrangling, […]
Swiss inflation remains at 3% in November
In November 2022, Switzerland’s consumer price index remained stable. At the end of November 2022, the price of the same basket of goods was 3% higher than it was at the end of November 2021, the same level as it was at the end of October 2022, according to the Federal Statistical Office. However, the […]
Switzerland adopts EU’s eighth package of sanctions
On 23 November 2022, Switzerland’s Federal Council adopted the latest round of EU sanctions against Russia. In response to Russia’s ongoing military aggression against Ukraine, as well as Russia’s continued efforts to destabilise and undermine Ukraine’s territorial integrity, sovereignty and security, the European Union (EU) adopted new measures against Russia on 6 October as part […]
Swiss fondu gets its own trademark
The Swiss cheese fondu “moitié-moitié”, which means half-half in English, will soon have its own figurative trademark, reports RTS. On 16 November 2022, the cheese producers’ association in the canton of Fribourg announced that it had applied for a trademark for the well-known “moitié-moitié” cheese fondu, which is made up of a 50/50 mix of […]
Swiss construction workers protest over hours and pay
After construction workers went out on strike for two days in French-speaking Switzerland, construction workers protested in Zurich over hours and pay on 11 November 2022, reported RTS. With inflation in Switzerland running at 3%, construction workers are demanding higher pay. However, the construction industry has responded with an offer of better pay tied to […]
Qatar 2022: Swiss broadcaster reveals evidence suggesting vote buying
An inquiry presented this week by RTS reveals evidence of likely vote buying related to the choice of Qatar for the 2022 Football World Cup due to start on 20 November 2022. A cloud of corruption has hung over FIFA since 2010 when Qatar was chosen by 14 votes to 8 as the place for […]
Switzerland and UK strike science deal
On 10 November 2022, Switzerland and the UK, two nations outside the EU, signed an agreement deepening the relationship between the two nations’ research and innovation communities. The agreement was signed by UK Minister of State for Science, Research and Innovation, George Freeman MP, alongside Federal Councillor Parmelin, Head of Switzerland’s Federal Department of Economic […]
Swiss inflation stable in October
Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week. This left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022. The stability of the index compared with the […]
Federal commission takes aim at minimum wages
Across most of Switzerland there is no minimum wage. However, the cantons of Neuchâtel (CHF 20 per hour), Geneva (CHF 23 per hour), Jura, Ticino and Basel-City have them. This week, a federal parliamentary commission voted in favour of challenging the applicability of these minimum wages, reported RTS. If a national negotiation between employers and […]
Swiss pension funds hit hard by markets
At the end of 2021, Swiss employment-based pensions fund in aggregate held assets worth 18.5% more than what they owed. By 30 September 2022, they owed 0.5% more than they held in assets, according to government data published recently. Switzerland has a three layered pension system. The first layer is a state pension, known as […]
