Re: Termination of employment
Post 7
World Radio Switzerland
Friday, 12 October, 2012, 16:49
Geneva frets over losing multinationals
The canton of Geneva wants the federal government to help if some multinationals leave, taking their worth of about 3.7 billion francs with them.
A study of firms in the canton comes as the EU seems to be losing patience for special tax regimes afforded to holding companies in Switzerland.
In the canton of Geneva, 945 companies currently enjoy preferential tax rates, and the CREA Institute of Macroeconomics says foreign companies are responsible for around 50,000 jobs in the area.
These employees generate nearly a quarter of the region’s GDP.
To secure this vital economic segment, the Geneva government suggests a tax rate of 13 percent for all companies, foreign or home grown.
But it is no fail-safe solution, bringing in less than half of current tax revenues.
As to where the rest of that money will come from, cantonal MPs want the federal government to make up the shortfall.
It’s not just a Geneva issue, according to Geneva’s Finance Director David Hiller.
“Our common allies here are Zurich, Basel City, and Vaud,” he told reporters. “We need to align our positions, and collectively defend our interests, which too seldom happens.”
http://worldradio.ch/wrs/news/wrsnews/geneva-frets-over-threat-of-losing-multinationals.shtml?32854