New Swiss company tax reform plan well received in Brussels

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The Swiss government’s company tax reform plans have been reborn after the last plan met with defeat in a popular vote on 12 February 2017. The new plan, dubbed “Tax proposal 17”, aims to avoid issues that bedeviled the last project.

Last time many were concerned by the potential financial impact of lower company tax rates, and the proposal was rejected by 59.1% of voters. This time the government wants to ensure the greatest possible degree of transparency in the legislative process and demonstrate the financial implications.

The government in Bern held discussions with political parties, cities, communes, churches and the private sector on 7 April 2017.

After more discussions with Switzerland’s cantons and communes, the Federal Council will determine the cornerstones of the proposal in June 2017 and decide on the next steps.

On Tuesday, Pierre Moscovici, the european commissioner of financial affairs, praised Switzerland’s rapid launch of the new project, which is scheduled to come into effect in 2019 at a federal level and by 2020 at a cantonal level, according Federal Councilor Ueli Maurer.

Moscovici was “disappointed” by voter rejection of the first plan in February, however he was pleased to see Switzerland react quickly and in the right direction.