ZURICH : Swiss citizens vote this weekend on whether to raise business tax to 15 per cent from an average of 11 per cent to align with a global minimum tax rate, although even with the rise the country would still have one of the lowest corporate tax levels in the world. In 2021 almost 140 countries inclu
Swiss citizens vote this weekend on whether to raise business tax to 15% from an average of 11% to align with a global minimum tax rate, although even with the rise the country would still have one of the lowest corporate tax levels in the world. In 2021 almost 140 countries including Switzerland agreed to an Organisation for Economic Cooperation and Development (OECD) deal to ensure large companies pay a minimum tax rate of 15%, to prevent them trying to avoid taxation by transferring profits to low tax countries.