I’ve been working with my manager in Hamburg for the past 2 weeks. He’s from Switzerland and we have been exchanging stories about our home country. The more we talk, the more I became fascinated at how Switzerland works as a country. Let me explain.
Switzerland do not have a head of country. There are 7 ministers elected by the members of parliament. Therefore any decision made must be agreed by all 7 ministers , according to the exisiting law. A minister will be selected yearly to represent the country in social events. There is also no professional politicians except for the 7 elected ministers.
The rational for this is that the citizen controls the government, rather than the government controlling its citizen.
Income tax in Switzerland is only 10%. Tax is not deducted from your monthly salary but is declared and paid at the end of the year. The rational apparently is the Swiss will pay tax if the government has proof they have done well and thus rewarded with the tax income. This will also prevent govenmnent officials from mis-using the money.
There is also a capital gains tax which is deducted from the interest earned from bank. If one lodge an income tax, then they will be able to receive the tax back which encourages people to lodge their tax every year.
There is a law in Switzerland that pension fund must have a 6% return on an individuals pension fund. 6% !! Even M’sia’s EPF only have an average 3-4% returns.
Perhaps we can consider moving to Switzerland??? LoL