Bern, Switzerland (GenevaLunch) – The Swiss government Wednesday afternoon issued its latest federal revenue forecast, a surprising increase from the earlier prediction of a CHF1.1 billion surplus, up to CHF4.6b. Bern cautioned that the healthy 2008 situation will not repeat itself in 2009, in part because the recent bailout of UBS will leave the government with a deficit of CHF6.4b in exceptional expenditures.

The unexpected revenue increase is due mainly to third quarter figures available at the end of October for the federal withholding tax on dividends and interest earned, both of which reflect the healthy economic situation in 2007, the government points out. Income from taxes on petrol are also higher than earlier estimated.

You can leave a response, or trackback from your own site.