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Switzerland Welcomes High Tax Receipts

Monday, April 29, 2019

High withholding and direct federal tax receipts will help the Swiss Confederation to surplus, the Federal Department of Finance has announced.

The FDF has published a brief report on public finance trends for the period 2017-2019.

The FDF said that there was a significant year-on-year increase in ordinary receipts in 2017, due mainly to higher withholding tax receipts. The Confederation's tax revenue rose by 8.2 percent. Ordinary receipts posted another year-on-year increase in 2018, attributed principally to higher direct federal tax receipts. The FDF said that withholding tax receipts remained at a similarly high level as in 2017.

The FDF said that were withholding tax revenue to return to normal levels, the Government's tax take "could lose considerable momentum" in 2018 and 2019.