Corporate Tax

Switzerland opinions international corporate minimal tax plan to restrict harm

Switzerland is examining what the global corporate tax reform could mean for its public coffers and how it can limit the damage to its economy.

The country, known for its low taxes, can cope with a worldwide minimum tax rate and will do everything to remain an attractive location for companies, says the government.

According to the Financial Times, officials are consulting with the cantons to find out how to offset the effects of a minimum tax. The measures could include research grants, social security deductions and tax credits, the newspaper said.

When asked by Bloomberg regarding the report, the Swiss Treasury Department said it would comment on the corporate tax reform offer in due course.

Read more: G-7 Strikes Deal to Revise Tax Regulations for Largest Company

The newspaper article comes after Ernst Stocker, Finance Director of the Canton of Zurich, told SRF that the country would have to consider internationally recognized instruments such as tax deductions in order to remain attractive.

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