Swiss reject tax reform, threatening competitive edge

Switzerland shot down the government’s plan to reform corporate taxation, a decision that risks hurting its appeal as a place for multinational companies.
 
After opponents labelled the reform a series of “complicated tax tricks,” voters opposed it by 59 per cent to 41 per cent, the federal chancellery said on Sunday. Polls had suggested the electorate was evenly split on the measure, which would have given companies reductions for income from patents and research and development activities.
 
Due to international pressure, Switzerland needs to give up special breaks for multinationals, which generate billions in tax revenue and employ