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Swiss Multinationals Dominate High-Risk Sectors

November 11, 2020 - Switzerland’s Prominent Role in Industries Prone to Human Rights Violations

Switzerland is home to a significant number of multinational corporations operating in sectors vulnerable to human rights violations. A new report highlights the country’s dominant position in industries such as mining, oil and gas, and agriculture, where workers often face exploitation and abuse.

Key Findings from the Report

Swiss multinationals have substantial operations in countries with poor human rights records, including the Democratic Republic of Congo, Colombia, and Indonesia.
The companies’ activities in these regions have been linked to a range of abuses, including child labor, forced displacement, and more.

Factors Contributing to Switzerland’s Involvement

While some critics argue that Switzerland’s strong economic interests are driving its involvement in these sectors, others point to the government’s lack of effective regulation and oversight as contributing factors.

New Report Highlights Changes in Tax Policies

Meanwhile, another report published by the University of Bern has found that wealthy individuals in Switzerland are paying higher taxes for the first time in decades. The study attributes this trend to changes in cantonal tax policies and a shift away from aggressive tax competition.

Cantons Running into Financial Difficulties

According to the NZZamSonntag, some cantons have run into financial difficulties due to their previous competitive tax strategies, while others have simply exhausted their supply of attractive properties for wealthy individuals seeking to relocate.

Even Tennis Star Roger Federer Not Immune

The paper notes that even tennis star Roger Federer, who recently moved from a lower-tax region to a luxurious home on Lake Zurich, is not immune to the trend. “Just as Roger Federer is now moving to Rapperswil, other rich people also forego the tax discount if they get a better quality of life in return,” writes the paper.

Switzerland Tourism Survey Highlights Need for Sustainable Practices

In related news, Switzerland Tourism has released a survey finding that only 5% of respondents are concerned about overtourism in the country. The report highlights the need for sustainable tourism practices to ensure the long-term viability of popular destinations.