It has the power to resolve treaties and alliances, control foreign trade and impose taxes. The Swiss national government consists of the Federal Council which is the executive body, the Federal Assembly which has the legislative powers and the Federal Tribunal which is the federal court. The Federal Tribunal which is the highest court does not, as the U.S. Supreme Court, have the authority to declare federal laws unconstitutional. Certain laws must also be approved by the people before enacted by the Federal Assembly. Each canton determines its own taxation and some have advantageous tax levels.
Municipal taxes vary depending on the municipality.
A minimum of one director is obligatory who should be a Swiss citizen living in Switzerland. If more than one director, a majority must be Swiss citizens. Directors and shareholders meetings should take place in Switzerland. An annual independent audit is required by law as well as retaining financial accounts. The minimum authorized share capital, issued and fully paid up, is CHF 100,000 and minimum par value is CHF 100 per share.