Switzerland agrees to share tax information on multinationals from 2020
Zurich — Switzerland said on Wednesday it would start sharing information on the activities of multinationals in its territory with other countries in 2020, joining an international push to fight tax evasion. The new measures will force about 200 large companies in the low-tax haven to prepare country-by-country reports — showing where they are generating revenues and where they are paying taxes. The effort is part of a global crackdown on companies shifting profits to lower tax areas to reduce their tax payments. Other countries, including European Union members and Japan have already agreed to start sharing information two years earlier, from 2018. "Switzerland is thereby fully implementing one of the global minimum standards of the base erosion and profit shifting project, which aims to improve transparency with regard to the taxation of multinationals and to establish a uniform framework for the exchange of the reports," the government said. Switzerland has attracted hundreds of...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.