The Swiss Federal Council has prepared new reforms with respect to the withholding taxes applied to foreigners. The reform mainly refers to a second assessment to the withholding taxes applied to incomes made in Switzerland by foreign residents. The Federal Council adopted the amendments to the withholding tax regime as a result of the Swiss Federal Supreme Court decision from 2010. The court ruling stated that the appliance of the withholding tax to certain incomes disagreed with the Agreement on Free Movements of Persons concluded by Switzerland with the European Union.
The Prosperity Index was designed by the British Legatum Institute and it was created to designate the world’s most prosperous countries in terms of economy, entrepreneurship, health, education, personal freedom, security and social capital. In this year’s Prosperity Index, Switzerland ranked second. The most significant elements rising Switzerland this high up the chart were the economy and the governance.
According to the new Doing Business report for 2015 released by the World Bank, Switzerland has become a more business-friendly country. That translates into a simplified business registration procedure. Switzerland was previously ranked 22nd while it now occupies the 20th position out of 31 OECD countries. At worldwide level Switzerland is ranked 69th out of 189 countries when it comes to how easy it is to set up a business.