Surplus of 200 million francs for the city of Geneva
Published: Thursday, Apr 18th 2024, 15:20
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The City of Geneva generated a revenue surplus of almost CHF 200 million in 2023. This result is due to extraordinary tax revenue, mainly from legal entities.
The deficit of 23 million francs originally planned in the 2023 budget has thus been more than offset, the City of Geneva wrote in a statement on the 2023 annual accounts on Thursday.
Net revenue from taxes on natural persons amounted to 665.6 million (+50.2 million), while the share of taxes on legal entities reached 313 million (+121.3 million). The City of Geneva had already performed better than budgeted in 2022. The surplus at that time amounted to CHF 150 million.
The canton of Geneva even closed its 2023 annual accounts with a record surplus of almost CHF 1.4 billion thanks to high tax revenues.
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