Zug has grown from a rural backwater into an economic powerhouse thanks to the influx of foreign companies – drawn by the lure of tax breaks. But is all that glitters really gold? (RTS TTC, swissinfo.ch)
Behind the postcard pretty town of Zug in Central Switzerland lies an economic dragon. Zug is the best performing canton in the country, with an annual growth of 4%. A symbol of this success is this newly built tower right in the town center. The price per square meter is 19.000 francs, and all the luxury apartments are already sold out.
The smallest canton in Switzerland owes its success mainly to tax optimization. People don’t move to Zug just for the attractive lake, but also to pay a minimum tax. Is the canton a tax haven?