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Some company records not updated since 19th century

National News // July 6, 2018

Some firms in Switzerland haven’t updated their records in the company register since the 19th century.

pixabay Some company records not updated since 19th century

And there are thousands of companies operating without creating an official record at all.

That’s the finding of a survey by the Federal Audit Office.

The law states that any company with an annual turnover of more than CHF 100,000 has to be listed with the canton – including sole traders.

The lack of up to date records could be a problem for tax collection and opens the danger of corruption, according to the Swiss office of Transparency International.

 

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