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Swiss Reject Tax Reform, Threatening Country’s Competitive Edge

  • Government has agreed to scrap tax breaks for multinationals
  • Polls had indicated dead heat for national referendum
Bloomberg business news

Why Did Swiss Voters Reject Corporate Tax Reform Plan?


Switzerland shot down the government’s plan to reform corporate taxation, a decision that risks hurting its appeal as a place for multinational companies.

After opponents labeled the reform a series of “complicated tax tricks,” voters opposed it by 59 percent to 41 percent, the federal chancellery said on Sunday. Polls had suggested the electorate was evenly split on the measure, which would have given companies reductions for income from patents and research and development activities.