Swiss voters resoundingly refuse to foot the bill for multinational tax sweeteners
February 14, 2017
Salman Shaheen TPW
In what will likely prove to be Switzerland’s most important referendum of 2017, voters overwhelmingly refused to back Corporate Tax Reform III in a sign they are not willing to see Switzerland’s status as a tax haven cemented if they have to pay for it.
Swiss voters went to the polls on Sunday in a crucial referendum to determine the future of the country’s economic model in a post-BEPS world. Multinationals and their advisers lined up behind the corporate-friendly reforms. But left-wing parties and tax justice activists came out hard against the proposed reforms amid concerns over public finances and Switzerland’s status as a tax haven.
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