S&A Associates : zeer laag belasting tarief, zeer hoge tewerkstellingsgraad, zeer veel bedrijven, zeer veel geld in de staatskoffers…
Switzerland is known as a tax haven for the wealthy. But within Switzerland, the canton of Zug is the pinnacle of economic freedom. Zug has the highest concentration of U.S.-dollar millionaires in Switzerland – nearly 10% of all households, according to Boston Consulting Group.
The highest personal income tax anyone in Zug pays is 22.9%. Companies pay around 15.4%, compared to 35% in the U.S. (the second-highest in the world behind Japan). However, if you meet with tax officials in Zug and tell them you’re choosing between Zug and another canton for your business, they’ll likely cut you an even better deal on taxes.
How have rock-bottom individual and corporate tax rates worked for Zug? The number of companies with operations in Zug increased from 19,000 to 30,000 over the past decade. Companies with headquarters and/or large operations in Zug include global construction giant Foster Wheeler, commodities trading firm Glencore, Burger King, SABMiller, and many others.
The number of jobs in Zug increased 20% in six years. Unemployment in the tiny canton is 1.9% (compared to 9.4% in the EU and 9.1% in the U.S.). Residential vacancy is 0.3%. According to the Wall Street Journal, “Luxury shops abound, government coffers are flush, and there are so many jobs that employers sometimes have a hard time finding people to fill them.”