(MENAFN- Swissinfo)
Swiss consumers should be taxed more for shopping abroad, says the boss of Switzerland's largest retail chain, Migros.
This content was published on
January 6, 2025 - 10:11
3 minutes
Keystone/SDA
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The Swiss VAT exemption limit for purchases made abroad was halved from CHF300 to CHF150 at the start of this year.“A reduction to CHF50 would have been ideal,” Migros CEO Mario Irminger said in an interview with CH Media.
The Migros boss was satisfied with his company's business performance in 2024. According to his estimates, sales will be slightly above CHF32 billion of the previous year.
+ Read more: what's on the Swiss economic horizon in 2025?
The operating result should also be stable or better than in 2023, when Migros reported a low profit of CHF175 million compared to previous years due to high special depreciation. Such burdens are not to be expected this time, Irminger emphasized.
Migros continues to enjoy a strong connection with the Swiss population, says Irminger.“Practically every household has a connection with Migros.” This goes far beyond the supermarket: households with a migration background in particular often first get to know Migros through its language courses.
Austerity measures
Despite the shift towards online solutions and apps, the language courses at the Migros Klubschule will not fall victim to the current austerity measures, as Irminger further assured:“The language schools are of course not self-sustaining. But this educational offering is one of the most important pillars of our cultural commitment.”
Despite austerity measures, Migros is planning major investments. Over the next five years, 350 existing supermarkets are to be modernised, as the company announced in October. In addition, 140 new supermarkets are to be opened, increasing the number of branches from 790 to 930. Migros plans to invest CHF2 billion in these new openings alone.
The project will not be easy, Irminger admitted. Nevertheless, he sees good chances thanks to the anchoring of the ten regional cooperatives and their familiarity with the regional building regulations.“Thirty branches per year are realistic,” said the Migros CEO.
Translated from German by DeepL/mga
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