– Geneva donates 372 million francs to France
The Geneva financial compensation paid this year sets a new record with an increase of 20 million francs compared to 2023.
Published: 06/26/2024, 4:23 p.m.
The CFG paid in 2023 was intended primarily for operations linked to mobility but also education, as well as sanitation and water management. (Illustrative image)
LUCIEN LUCKY
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In 2024, the Canton of Geneva will pay 372 million Swiss francs to France as part of the Geneva financial compensation relating to cross-border workers (CFG), a announced this Wednesday the Council of State. That is 20 million francs more than last year (352 million paid in 2023). A new record!
In accordance with the 1973 agreement between the Federal Council and the French government, this payment helps to offset public charges relating to residents of Ain and Haute-Savoie who work and are taxed in Geneva.
In 2022, the withholding tax levied on the salaries of cross-border workers exceeded 1.212 billion francs, or 781 million francs for the cantonal share, 171 million for the federal share and 260 million for the municipal share. After the retrocession, nearly 669 million francs remain acquired in favor of the Canton and the municipalities, specifies the Geneva Executive.
French authorities use these funds to finance essential infrastructure projects, such as improved transportation, education and water management, benefiting residents on both sides of the border.
The CFG allocation is discussed during bilateral meetings, the last of which took place on June 25 under the aegis of the Franco-Geneva Regional Committee.
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