Over time, salaries increase with inflation. However, if tax deductions and allowances are not adjusted the percentage of income taken in tax rises, a phenomenon known as tax creep or fiscal drag. Given recent inflation, Switzerland’s federal government announced this week that it was increasing allowances and deductions, reported SRF. From 2025, the child and […]
All Swiss property owners could be hit with earthquake bill
Switzerland sometimes feels like the land of insurance. Numerous costs that are covered by taxes in many places come instead in the form of compulsory insurance in Switzerland. However, some risks remain uncovered by compulsory insurance. Earthquakes are one such risk. This week, a plan to force all property owners to contribute to the cost […]
Some foreign drivers pay significantly higher Swiss car insurance premiums
Insurance companies use customer data to estimate the risk of an accident and calculate a price for covering that risk. Any discernable attribute that correlates with differences in risk can help to make pricing more accurate. The age and gender of the driver, where they live and the vehicle they drive are the key factors […]
New temperature record broken in Switzerland
Last Sunday, a new temperature record was broken in Bisaca in the canton of Ticino. At 3:20 pm on 11 August 2024 the temperature reached an annual high of 36.3 degrees Celsius, the highest temperature ever recorded in the town, reported RTS. Temperatures reached uncomfortable levels in other parts of Switzerland too, hitting 35 degrees […]
Swiss economy grows more than expected in second quarter of 2024
Switzerland’s economy grew slightly more than expected in the second quarter of 2024, reported SRF. Between April and June 2024, Gross domestic product (GDP) rose by 0.5%. A survey of economists had expected growth for the quarter to be between 0.2% and 0.4%. The biggest driver of growth during the quarter came from industry, which […]
Group against Swiss motorway enlargement launches its campaign
This week, a group in the Lake Geneva region against the federal government’s plan to expand key stretches of the A1 motorway in Switzerland, launched its campaign against the idea ahead of a vote on 24 November, reported RTS. The federal government recently announced a plan to add lanes to six stretches of Switzerland’s A1 […]
Swiss government plans to fund higher pensions with higher VAT
In March 2024, 58% of voters voted in favour of paying an additional 13th month of state pension. That triggered a fierce debate on how to fund it. This week, Switzerland’s Federal Council said it planned to fund the increase with higher VAT with no rise in salary taxes. The news was delivered by Elisabeth […]
Swiss attorney general fines miner Glencore
This week, Switzerland’s Office of the Attorney General (OAG) announced it had fined and closed its criminal investigation against the mining company Glencore International AG. After a four year investigation, OAG closed its criminal investigation against the Swiss-based company and imposed a CHF 2 million fine for failing to take all necessary and reasonable organisational […]
How to avoid death and injury from lightning
Switzerland is no stranger to violent storms, which sometime come out of nowhere when hiking in the mountains. According to experts, most people struck by lightning survive. But the risks of suffering long term damage are high, reported SRF. The electricity discharged by lightning can be as high as 100,000 amperes, according to Christian Franck, […]
Instant payments to start soon in Switzerland
Currently, payments between Swiss bank accounts are typically processed the following day. From 20 August 2024, Swiss banks will start to roll out instant payments within Switzerland, reported RTS. The new instant payment system will move money within 10 seconds and will operate around the clock seven days a week. In addition to speed, the […]
