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Taxation In Switzerland
Taxes in Switzerland are levied by the Swiss Confederation, the Cantons of Switzerland, cantons and the municipalities. Legal framework Fiscal sovereignty Switzerland is a federal republic in which the sovereignty of the constituent states (the ''cantons'') is limited by the enumerated powers delegated to the federal state (the ''Confederation'') through the Swiss constitution, federal constitution. Consequently, the original authority to levy taxes is vested in the individual cantons of Switzerland through their constitutions. Within the bounds of the authority delegated to them by cantonal law, the municipalities may also levy taxes. The extent of that authority varies from canton to canton. While the formal framework of the most important cantonal direct taxes has been harmonised through the 1990 Federal Tax Harmonisation Law, the cantons (and, as the case may be, the municipalities) remain free to set their tax rates or establish new taxes, except on tax objects already taxed u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxes
A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income. Cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regressive Tax
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The regressivity of a particular tax can also factor the propensity of the taxpayers to engage in the taxed activity relative to their resources (the demographics of the tax base). In other words, if the activity being taxed is more likely to be carried out by the poor and less likely to be carried out by the rich, the tax may be considered regressive. To measure the effect, the income elasticity of the good being taxed as well as the income effect on cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payroll Tax
Payroll taxes are taxes imposed on employers or employees. They are usually calculated as a percentage of the salaries that employers pay their employees. By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is unaffected by this distinction, and falls largely or entirely on workers in the form of lower wages. Because payroll taxes fall exclusively on wages and not on returns to financial or physical investments, payroll taxes may contribute to underinvestment in human capital, such as higher education. National payroll tax systems Australia The Australian federal government ( ATO) requires withholding tax on employment income (payroll taxes of the first type), under a system known as pay-as-you-go (PAYG). The individual states impose payroll taxes of the second type. Bermuda In Bermuda, payroll tax accounts for over a third of the annual nation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Person
In jurisprudence, a natural person (also physical person in some Commonwealth countries, or natural entity) is a person (in legal meaning, i.e., one who has its own legal personality) that is an individual human being, distinguished from the broader category of a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization. Historically, a human being was not necessarily considered a natural person in some jurisdictions where slavery existed (subject of a property right) rather than a person. Definitions According to Maria Helena Diniz, an individual or natural person "is the human being considered as a subject of rights and obligations". Every human being is endowed with legal personality and, therefore, is a subject of law. According to Sílvio de Salvo Venosa, "legal personality is a projection of the intimate, psychic personality of each person; it is a social projection of the psychic personalit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (such as mandatory pension contributions), and is widely used as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proportional Tax
A proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases. The amount of the tax is in proportion to the amount subject to taxation. "Proportional" describes a distribution effect on income or expenditure, referring to the way the rate remains consistent (does not progress from "low to high" or "high to low" as income or consumption changes), where the marginal tax rate is equal to the average tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA It can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Proportional taxes maintain equal tax incidence regardless of the ability-to-pay and do not shift the incidence disproportionately to those with a higher or lower economic well-being. Althou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate. The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower wikt:ability to pay, ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay a larger proportion of their income compared to the rich (for example, spending on groceries and food staples varies little against income, so poor pay similar to rich even while latter has much higher income). The term is frequently applied in reference to personal income taxes, in which people with lower income pay a lower percen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lindemannlaw
On 19 March 2023, Swiss bank UBS Group AG agreed to buy Credit Suisse for billion ( billion) in an all-stock deal brokered by the government of Switzerland and the Swiss Financial Market Supervisory Authority. The Swiss National Bank supported the deal by providing more than billion ( billion) in Market liquidity, liquidity to UBS following its takeover of Credit Suisse's operations, while the Swiss government provided a guarantee to UBS to cover losses of up to billion ( billion) over the short term. Additionally, billion ( billion) of Contingent convertible bond, Additional Tier 1 bonds were written down to zero. Credit Suisse is a globally Systemically important financial institution, systemically important bank whose investment banking unit, Credit Suisse First Boston, First Boston, had been recently tarnished by a series of high-profile scandals. The 2023 United States banking crisis, banking crisis in the United States had caused fear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriage
Marriage, also called matrimony or wedlock, is a culturally and often legally recognised union between people called spouses. It establishes rights and obligations between them, as well as between them and their children (if any), and between them and their Affinity (law), in-laws. It is nearly a cultural universal, but the definition of marriage varies between cultures and religions, and over time. Typically, it is an institution in which interpersonal relationships, usually sexual, are acknowledged or sanctioned. In some cultures, marriage is recommended or considered to be Premarital sex, compulsory before pursuing sexual activity. A marriage ceremony is called a wedding, while a private marriage is sometimes called an elopement. Around the world, there has been a general trend towards ensuring Women's rights, equal rights for women and ending discrimination and harassment against couples who are Interethnic marriage, interethnic, Interracial marriage, interracial, In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Treaties
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes. Besides bilateral treaties, multilateral treaties are also in place. For example, European Union (EU) countries are parties to a multilateral agreement with respect to value added taxes under auspices of the EU, while a Convention on mutual administrative assistance in tax matters, joint treaty on mutual administrative assistance of the Council of Europe and the Organisation for Economic Co-operation and Development (OECD) is open to all countries. Tax treaties tend to reduce taxes of one treaty country for residents of the other treaty country to reduce double taxation of the same income. The provisions and goals vary significantly, with very few tax treaties being alike. Most treaties: * define ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Revenue As A Percentage Of GDP 1980-2022
A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income. Countr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
