On 18 June 2023, Swiss voters will choose whether to accept the federal government’s plan to raise the company tax rate applied to large multinationals to a minimum of 15%. Some countries increase their tax bases and the total tax they collect by attracting foreign companies with competitive tax rates. The average rate of company tax paid in Switzerland is around 13.5%. The extra tax from the new 15% rate is estimated to be between CHF 1 and 2.5 billion. The head of finance in Zug told RTS that the canton plans to invest all of the extra tax money into the economy.

Source: Le News June 17, 2023 00:12 UTC