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Swiss Lawmakers Begin Examination Of 2013 Budget

by Ulrika Lomas, Tax-News.com, Brussels

17 September 2012


The Finance Committee of the Swiss National Council has recently begun its examination of the Confederation’s 2013 budget, together with the 2014-2016 financial plan.

The Finance Committee initially held talks with President of the General Directorate of the Swiss National Bank (BNS) Thomas Jordan to assess the current economic situation, notably the effects of the strong Swiss franc on the Swiss economy, as well as the minimum exchange rate fixed at CHF1.20 per euro.

The head of the Swiss Federal Department of Finance (FDF) then presented the key figures contained in the 2013 budget and in the 2014-2016 financial plan. The 2013 budget provides for fiscal revenues next year of around CHF64.5bn (USD69.5bn), for spending of approximately CHF64.9bn, and for a deficit of almost CHF400m.

Although the Committee underlined the good economic situation in Switzerland, one deputy requested that the budget remain balanced, given the debt of the Confederation, which is still high.

During the course of the opening debate, the Finance Committee rejected a proposal for a motion pertaining to the 2014-2016 financial plan. The text called for the government to implement different measures aimed at effectively combating tax evasion, to protect honest taxpayers in Switzerland and to generate additional revenues for the Confederation, the Swiss cantons and communes.

While acknowledging that there are problems in this area, the majority of the Committee decided that the motion is not the appropriate means with which to resolve the issue and deemed that the measures proposed were excessive. The Committee also argued that it is the responsibility of the department concerned to ensure that the necessary action is taken.

The relevant sub committees are due to examine the 2013 budget in October.

TAGS: Finance | tax | fiscal policy | budget | Switzerland

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