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Today’s Top Headlines

Switzerland Approves Basel Airport Tax Deal

by Ulrika Lomas,, Brussels

26 January 2017

The Swiss Federal Council has approved an agreement with France on the tax system applicable to the EuroAirport Basel Mulhouse Freiburg (EAP).

The Swiss Federal Council said that Switzerland is now ready to sign and implement the agreement as soon as the European Council has accepted France's application for a value-added tax (VAT) exemption, submitted in 2015.

The agreement will allow Swiss VAT to be levied in the Swiss area of EAP. The receipts from corporation tax paid by EAP will be split between France and Switzerland, with all stakeholders taking a share.

Companies in the Swiss area will pay French income tax and Swiss capital tax. They will not be liable for the main ancillary taxes levied in France, to which the Swiss tax is considered equivalent.

The Swiss Federal Council said that the agreement will establish a long-term tax regime for the airport, thereby ensuring that it and its businesses remain attractive. It added that the overall tax burden on businesses in the Swiss area will remain similar to that imposed at present.

TAGS: tax | business | value added tax (VAT) | corporation tax | France | Switzerland | tax reform | European Union (EU) | Europe

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