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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?

By

Catherine Bosley

February 12, 2017, 11:34 AM UTCCorrectedFebruary 13, 2017, 10:39 AM UTC

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.