Brussels, 22/09/2014 (Agence Europe) - On 22 September, the Swiss Federal Council decided to open a consultation (to run until the end of January 2015) on a third reform of corporate taxation.
In a press release, the Swiss federal administration explains that due to “international developments, namely in the OECD, it would appear that these currently applicable arrangements will no longer be in keeping with international standards”. The reform aims to phase out, by 2019, beneficial tax statuses for holding, domiciliary and mixed companies. Amongst other things, the plan will replace cantonal tax statuses, which run counter to international standards, with other systems, such as the “licence box”, which allows for moderate taxation on income from licenses and intellectual property. Switzerland plans to bring in vertical equalisation measures amounting to 1 billion Swiss francs to ensure a balanced distribution of the burden between the Confederation and the cantons.
According to the Swiss newspaper Le Temps, an agreement on corporate taxation between the EU and Switzerland is expected to be signed in Luxembourg on 14 October. (EL)