(L to R) Swiss Finance Minister Ueli Maurer, Swiss Justice Minister Simonetta Sommaruga and Swiss President Doris Leuthard attend a news conference after the vote on the Corporate Tax Reform Act III in Bern, Switzerland February 12, 2017. (Source: REUTERS/Pierre Albouy) (L to R) Swiss Finance Minister Ueli Maurer, Swiss Justice Minister Simonetta Sommaruga and Swiss President Doris Leuthard attend a news conference after the vote on the Corporate Tax Reform Act III in Bern, Switzerland February 12, 2017. (Source: REUTERS/Pierre Albouy)Swiss voters clearly rejected plans to overhaul the corporate tax system, sending the government back to the drawing board as it tries to abolish ultra-low tax rates for thousands of multinational companies without triggering a mass exodus. In addition, many cantons say they would reduce corporate tax rates for all companies to reduce the fiscal burden and dissuade multinationals from leaving. “The conservative parties wanted to push through tax reform with arrogance and haughtiness against the interests of the people.

Source: Indian Express February 12, 2017 18:11 UTC