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Swiss Tax Vote Tarnishes Pro-Business Image

Aligning corporate tax rate at competitive level is priority.

By Dylan Griffiths, Bloomberg | Updated on February 13, 2017

Switzerland needs to burnish its appeal to multinationals by presenting a simplified plan to lower corporate tax rates after voters rejected proposals they feared would squeeze public services and shift the fiscal burden onto individuals.

Voters rejected the reform package by 59% to 41% Sunday following more than a decade of pressure on Switzerland from the European Union to scrap tax breaks for multinationals.

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