Swiss voters set to reject corporate tax overhaul plan: SRF

© Reuters. Swiss 1,000-franc notes are seen in this picture illustration© Reuters. Swiss 1,000-franc notes are seen in this picture illustration

ZURICH (Reuters) – Swiss voters have rejected plans to overhaul the corporate tax system, setting back the government's effort to abolish low tax rates for thousands of multinational companies while encouraging them to stay, projections by broadcaster SRF showed.

Most Swiss recognize the country needs tax reform to avoid being blacklisted as a low-tax pariah, but new measures proposed to help companies offset the loss of their special status breaks had created deep divisions.

“It is so clear that you can already say the measure will fail,” political analyst Claude Longchamp of the gfs.bern research and polling institute told SRF.

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