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Switzerland Hails Bumper Tax Take

Tuesday, March 13, 2018

"Surprisingly high" withholding tax receipts helped the Swiss Confederation to a record surplus in 2017, the Government has said.

The Government has published details of the "pleasantly positive" state of the public finances. It said that a strong performance by withholding tax receipts, combined with "virtually stagnant expenditure," helped the confederation achieve "a record high surplus ratio of 0.9 percent of GDP, which it [had] achieved only once before, in 2008." The Government anticipates a surplus ratio of 0.8 percent in 2018.