Switzerland votes 'yes' to being for corporate tax home for big business

The outcome ensures Switzerland remains a low tax domicile for companies and still is compliant with international rules

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Switzerland approved an overhaul of the corporate tax code, choosing to stay an attractive base for companies like Procter & Gamble, Vitol SA and Caterpillar even at the expense of a short-term drop in fiscal revenue.
 

The change was approved by 66 per cent of voters, according to a projection published by Swiss television SRF. A poll by gfs.bern had suggested it would pass.
 

The outcome, which ends years of wrangling and a failed attempt at an overhaul two years ago,