According to the Worldwide Cost of Living 2015 survey published by the Economist Intelligence Unit (EIU), one kilogram of bread in Geneva costs US$ 7.48. This is the third most expensive of the world’s top ten most expensive cities. Only Paris and Seoul have more expensive bread, costing US$ 8.83 and US$ 13.91 per kilogram respectively. After looking […]
The Swiss tax money go-round: winners and losers in 2015
Swiss cantons have very different tax bases, tax rates and costs. Many think all taxes raised by each canton are spent there. This was true, however in 2008 it changed. A national financial equalization mechanism (or péréquation financière nationale in French) was introduced to reduce cantonal financial disparities. Now every year rich cantons pay and poor cantons […]
Why Swiss farm produce is so expensive
Swiss farm produce is expensive. It is not uncommon to pay over CHF 100 (US$ 105) per kilogram for the best cuts of beef in Swiss supermarkets, a multiple of two to three times the price of many other countries. Similarly high prices exist for many other farm products in Switzerland. Why is this? Small […]
French tax on Swiss inheritance becomes a reality
Since 1 January 2015 French residents receiving Swiss inheritance are subject to French taxes on it. Many are up in arms at what they see as a predatory French tax grab and are calling for further negotiations to establish a new agreement to replace the 60 year Franco-Swiss accord that ended at the end of […]
Switzerland – staring down the barrel of deflation
The recent rise in the Swiss franc is driving deflation in Switzerland. The prices of imported goods are declining and there is talk of reducing salaries in some corners. Deflation is bad for an economy, particularly for the heavily indebted – your mortgage remains the same even if your salary declines and Government debts increase […]
Where the top 1% live – Switzerland leads
There was much talk of inequality at this year’s World Economic Forum in Davos. It is ironic then that the host country Switzerland has the greatest percentage of residents in the top 1% of the world’s wealthiest. Over 13% of Swiss are in this group, the highest proportion in the world according to the Credit […]
Switzerland ranked the world’s most affordable country
In a survey of 119 countries, Switzerland ranked at the top of the Local Purchasing Power Index with a score of 147. The 2015 index was calculated recently by Numbeo the world’s largest database of user-contributed data about cities and countries. Someone in Switzerland on an average wage can buy 47% more typical goods and […]
Here’s something 250% more expensive in Switzerland
For those British expats in Switzerland that haven’t been able to make the transition from Weetabix to Bircher muesli, buying your favourite brand of cereal across the boarder just got even cheaper after the Swiss National Bank scrapped the CHF-EUR exchange rate cap. Some price differences just leave you scratching your head. This is one […]
Swiss National Bank scraps exchange rate cap
In a surprise move the Swiss National Bank shocked the world today when it announced that it would stop managing the Swiss franc to an exchange rate of CHF 1.20 to 1.00 Euro. At the same time, it announced that it is lowering the interest rate on sight deposit account balances by 0.5 percentage points, to […]
Millionaire exodus after tax vote?
GENEVA Next 30 November, the Swiss will vote both on a federal and cantonal basis whether their country should continue to provide special tax privileges to foreign millionaires. The arrangement allows wealthy expatriates to declare a fiscal ‘forfait’ (tax package) based on their lifestyles and not the actual amount of their fortunes. On average, their […]
