Spain is the only country among the world’s 20 largest economies (defined by GDP) that adjusted its top income tax rate: The maximum tax rate for individuals was increased from 43 to 45 percent. Among the G-20 member countries, however, there was no change to the top tax rates.
According to the survey, Switzerland (Zurich city) lies in 12th position in Europe, with a maximum tax rate of 40 percent. If the average of all of the cantonal capitals is taken as a basis, the average maximum tax rate comes to 33.83 percent, thereby placing Switzerland in 11th position. In a comparison between European countries and Swiss cantons, Zug once again leads the national field, with a top tax rate of 22.86 percent (12th position), followed by Schwyz (23 percent) and Obwalden (24.12 percent) in 13th and 14th positions respectively.
Geneva has the highest cantonal tax rate; at 44.75 percent, it finds itself in excellent European company, between Italy (43 percent) and Spain, Greece and Germany (all 45 percent).
An additional presentation with the international comparison of the Swiss cantons is available here.