On Tuesday the presents Swiss national Bank , the new a thousand stars. Today, it is already clear: they will be a hit. Because the largest Swiss Banknote is the audience extremely popular. In just eleven years, despite the Boom of cashless payment transactions, the demand has doubled to 48.6 million shares.
The value of the output of thousands of notes in relation to the gross domestic product has risen since 2007, from 4.2 to 7.4 percent, far more than the other banknotes. In the meantime, the thousands of notes make up about 60 percent of the total Swiss franc cash. The 1000 is now the most valuable international common Banknote of the world – and an ideal value storage means for all who want to keep a portion of their assets in great security, and absolute anonymity.
But not only. There is also the suspicion that the thousands of stars plays an important role in the tax evasion . This suspicion is nourished a striking seasonal peak in December. Regularly before the turn of the year, Swiss customers lift proficient money from their accounts, mostly in thousand-franc notes, and in January you can wear it for the most part back to the Bank. The Figures of the national Bank show.
in That wealthy place by the end of the Swiss thousand-franc notes under the Christmas tree or your gifts with large notes to pay, is unable to explain the strong rash over the new year. It was always speculated that a thousand stars is an ideal Instrument for the avoidance of property taxes. Because it is extremely easy to forget in the tax Declaration of the cash””.
Switzerland is one of the few countries with a differing from Canton to Canton and strongly progressive wealth tax. In countries without property taxes, there is not the extreme peak in December, around the 500-Euro Note.
pent-up Demand, because a lot of the new stars
wait How important is the motive of tax avoidance, shows a study from Economists at the European Central Bank, the Swiss national Bank and the Eastern Bavarian Technical University Amberg-Weiden on “the use of banknotes with large denominations in Switzerland”. The researchers studied with various methods, to what extent, the a thousand stars as a store of value instead of for payment purposes.
Until the year 2000 was in most of the cantons, a two-year tax assessment. The Taxpayer had to fill in the tax Declaration every two years, the assets have been collected only at the end of the even-numbered years. And it is precisely this pattern is reflected in the demand for thousand-franc notes, the researchers found: on average, the difference between the odd and the tax assessment years was 2.9 percent.
however, This constitutes only a lower limit for the tax hidden in 1000-how, the researchers say. All cantons are not practiced, a two-year tax assessment, on the other, some of the cantons – for example, Basel, Thurgau, and Zurich – were earlier than the other on the one-year rhythm. According to this estimate, would be hidden at least 1.4 billion Swiss francs in thousands of notes over the year prior to the tax authorities. Basler, a Professor of Economics Yvan Lengwiler estimated the sum of the hidden notes and coins with 100-, 200 -, and 1000-franc notes, two years ago, roughly 3 billion Swiss francs.
In reality, it is likely to be the sum higher. Before the outbreak of the financial crisis, the demand by a thousand rose in December, each between 8 and 16 percent, in January they went back to 5 to 12 percent. Since the financial crisis, people are returning, however, your thousands of notes in January. Because of the low interest rates it isn’t worth it to carry the money back to the Bank.
May the new 200 has stolen-Note the thousands of the Show.
The proportion of a thousand notes being hoarded at home or in the locker, has greatly increased, as the researchers find. From the mid-1980s to the mid-1990s, only about a third of the store of value were kept, while the other two-thirds for payment purposes. With the introduction of the Euro and after the terrorist attack of 11. September 2001 in New York, the share of hoarding rose to over 60 per cent, since the financial and Euro crisis, even at 73 percent. The thousand stars is not to be used today primarily as a store of value, as a means of payment.
at the end of last year, the Boom of a thousand stars was stopped however, as the latest data of the national Bank show. From October to December, the demand was lower than in the same month of the previous year. Since 1995, never more. May the new 200 franc Note has stolen the thousands of the Show. The number of pieces moved to the launch in August. It is also conceivable that the demand by a thousand is just pent-up: savers wait for the new a thousand stars.
(Sunday newspaper)
Created: 03.03.2019, 00:04 Uhr
