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Companies find paying taxes still works well

Switzerland remains an "extremely attractive and efficient" tax centre for companies, according to a study published on Tuesday.

In its report "Paying Taxes 2009 – the global picture", professional services firm PricewaterhouseCoopers and the World Bank said a medium-sized company in Switzerland needed 63 working hours a year to fulfil its tax obligations.

In Europe, only Luxembourg (59 hours) had a lower rate, the study notes.

However, the country has slipped from 15th to 19th place in the global ranking for tax complexity, mainly as a result of the different Swiss authorities that demand payment.

As to the ease of paying taxes, Switzerland ranks 19th out of the 181 economies surveyed.