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IMF Calls On Switzerland To Meet Tax Reform Pledges

by Ulrika Lomas, Tax-News.com, Brussels

15 April 2019


The IMF has urged Switzerland to press ahead with its planned overhaul of the corporate tax system.

In a new report, the IMF encouraged Switzerland to "continue to make progress on its international commitments, including [the] removal of preferential regimes in the corporate tax system."

According to the IMF, "meeting these obligations is critical to dispel investor uncertainty and avoid reputational risk." It cautioned that uncertainty over the outcome of the corporate tax package could "increase volatility for business operations."

Under the Federal Act on Tax Reform, Switzerland will abolish the special arrangements for cantonal status companies and introduce a mandatory patent box regime for all cantons, along with optional additional deductions for research and development expenditure. The taxation of dividends will also be reformed.

A public referendum on the legislation will be held on May 19.

TAGS: compliance | tax | business | tax compliance | tax incentives | International Monetary Fund (IMF) | corporation tax | legislation | tax planning | Switzerland | dividends | research and development | BEPS

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