Swiss cities demand end to opaque cantonal tax competition

The proposed 15% minimum corporate tax rate is an opportunity for Switzerland to unite its tax code for the better, says an organisation representing Swiss cities. City finance directors have criticised cantons for trying to plug expected tax gaps unilaterally, rather than find a common approach nationwide. The United States is currently leading efforts by the G7 top industrialised countries to change the way that multinationals are taxed globally. One of the proposals is to impose a minimum rate of corporate tax – mooted at 15%. Opponents say this would disadvantage smaller countries, like Switzerland, which set lower taxes to attract multinational regional HQs. But the Swiss Conference of City Finance Directors told Swiss public broadcaster SRF on Monday that it welcomes the proposed tax reform. “The cities have always spoken out in favour of appropriate taxation for large corporations and companies,” said vice-president Daniel Leupi. “They should contribute appropriately...