Basel City rated most attractive canton for business
Canton Basel City has overtaken Zug to become the most attractive Swiss location for business, according to a study published on Thursday by Credit Suisse.
The most unattractive business locations, according to the study, are cantons Jura, Valais and Graubünden.
Canton Zug has been the undisputed leader ever since the cantonal ranking began in 1997. But this year Basel City jumped three places to overtake Zug after Basel City significantly reduced its corporate tax rate to 13.04%, Credit Suisse said. The northern canton, which borders France and Germany, was also helped by the availability of highly qualified people and good transport connections.
In May, voters agreed to revamp Switzerland’s corporate tax system. Many cantons have reduced their headline tax rates to make up for having to ditch special perks for multinational companies that locate offices and subsidiaries in Switzerland. The privileged tax regimes that apply to these companies will be abolished in 2020. A few cantons such as Vaud and Basel City have already significantly reduced their tax rates with effect from the start of 2019.
Return to the top?
Credit Suisse economists noted that the urban centres of Zurich, Zug, Basel, Baden, Lucerne and Bern, and their wider agglomerations, were the most attractive regions for companies, especially due to their transport accessibility.
Looking ahead to 2025, Credit Suisse economists believe that Zug – with its planned corporate profit tax reduction to around 12% – will probably return to the top of the ranking, followed by Basel City and Zurich.
The economists studied data from 110 economic regions in Switzerland, analysing the tax burden on private individuals and on legal entities, special tax systems, such as lump sum taxation, the availability of specialist labour and other highly qualified staff, and other population and transport information.
More
More
Switzerland votes ‘yes’ to overhaul corporate tax rules
This content was published on
Switzerland voted yes on Sunday to a reform of the corporate tax system that will scrap preferential treatment for multinational firms.
Swiss justice minister hopes EU reform will reduce irregular migration
This content was published on
The European Union’s (EU) New Pact on Migration and Asylum aims to curb irregular migration within Schengen, Justice Minister Beat Jans said on Tuesday.
Swiss electricity supply outlook positive despite uncertainties
This content was published on
Thanks to well-filled gas stores in Europe and increased availability of French nuclear power, the Swiss Federal Electricity Commission is optimistic.
Finance minister wants Swiss banks to hold more equity
This content was published on
Finance Minister Karin Keller-Sutter has repeated calls for banks and their holdings in subsidiaries abroad to hold more equity.
Telecoms sector kept Swiss competitions regulator busy in 2023
This content was published on
Last year, the Swiss Competition Commission (COMCO) conducted 27 investigations and initiated 17 preliminary investigations.
This content was published on
Although Swiss International Air Lines (SWISS) achieved higher revenue at the start of the year, it suffered a dip in profits.
40,000 signatures against animal testing in Switzerland
This content was published on
Switzerland should do away with “restrictive” animal testing and should become a model for innovative, effective, and pain-free scientific research.
More than 45,000 signatures in favour of federal funding for UNRWA
This content was published on
The Foreign Affairs Committee of the House of Representatives (FAC) is expected to decide on the funding of the UNRWA at the beginning of the week.
This content was published on
At the end of January 2024, 6,881 men and women were behind bars in Switzerland. Almost 95% of all places were occupied, the highest number since 2014.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss fintech scene on the verge of a ‘big decade’
This content was published on
The number of financial technology start-ups is rapidly growing in Switzerland, as is the amount of funding they receive from venture capitalists.
Switzerland losing attractiveness for multinationals
This content was published on
Once the ideal destination for multinationals to set up shop, Switzerland is being outpaced by other European hubs like the Netherlands.
Switzerland could lose billions in global corporate tax reform push
This content was published on
Switzerland stands to lose up to CHF10 billion ($10.2 billion) as a consequence of attempts by other countries to change how multinationals are taxed.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.