Tax & Spend
Swiss Government Urges Voters to Back Higher Corporate Tax
- Country to vote on implementing global tax deal on June 18
- Government wants a ‘yes’ despite worries about competitiveness
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Swiss Finance Minister Karin Keller-Sutter urged voters to back a plan to raise corporate taxes, warning that the government would lose revenue to other countries if it doesn’t pass a ballot due in less than two months.
The vote relates to a global agreement for a minimum corporate tax rate of 15%, higher than in many Swiss cantons. The structure of the deal, due to come into force at the start of next year, means that if Switzerland doesn’t implement that levy, another jurisdiction can collect the difference.