Switzerland

Switzerland is located in the heart of Europe between the Alps and the Jura mountains, where it is bordered by Germany to the north, France to the west, Italy to the south, and Austria and Liechtenstein to the east. Because of this central location, Switzerland offers a great variety in cultures and languages. The capital of Switzerland is Bern, and the official currency is the Swiss franc (CHF). The official languages of Switzerland are German, French, Italian, and Rhaeto-Romanic. Its liberal economic system, political stability, and its close integration with the economies of other countries make it an attractive business location.

Switzerland has a federalist structure and is divided into three political levels: the federal, the cantonal, and the municipal level (also referred to as communal level). The country consists of 26 cantons, which are sovereign insofar as their sovereignty is not limited by the federal constitution. The Federal Assembly, also called parliament, consists of two chambers: The National Council, which represents the 'sovereigns' (the Swiss people), and the Council of States, which represents the 26 cantons. The federal government is known as the Federal Council. It consists of seven members (the heads of respective departments) and operates as a collegial body.

In 1961, Switzerland signed the Convention on the Organisation for Economic Co-operation and Development (OECD). Since 2002, Switzerland has been a member of the United Nations (UN), which has its office in Geneva, and it also plays an important role in UN's specialised and important economic organisations. Further, since 1960, Switzerland has been a member of the European Free Trade Association (EFTA). Switzerland, however, is not a member of the European Union (EU).

Switzerland is a prosperous, modern, and liberal market economy with low unemployment, a highly skilled labour force, and a per capita gross domestic product (GDP) that is among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services; a strong manufacturing industry that specialises in high-technology and knowledge-based production; and a well-established pharmaceutical and chemical industry. In recent years, Switzerland brought its economic practices largely into conformity with the European Union in order to enhance its international competitiveness. In 2009, Switzerland agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. In 2019, the Multinational Convention to Implement Tax Treaty Related Measures to prevent Base Erosion and Profit Shifting (BEPS), the so-called Multilateral Instrument (MLI), entered into force in Switzerland.

PwC Switzerland assists organisations and individuals to create the value they are looking for, serving them with over 3,300 employees and partners working in 14 different offices throughout Switzerland. PwC Switzerland provides assurance, tax and legal, and advisory services to clients in a broad range of industry sectors.