Switzerland is attempting to legislate the Swiss Tax Proposal 17 under a new guise after the previous proposal was rejected in a referendum. The government wants to strengthen the country’s competitiveness and clean up its tax haven reputation through a new patent box, R&D incentives and cantonal corporate tax rates between 12% and 14%.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap