World Business News

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Switzerland to recognize EU Tax Code of Conduct

Zone(s): Switzerland ¦ Sector(s): Taxation

[27 June 2014,]  By Lorys Charalambous,, Cyprus: EU Commissioner Algirdas Šemeta said on June 20, 2014, that, following two years of discussions on business taxation with Switzerland, he is satisfied that changes will be made to the Swiss regime that will eliminate “harmful” tax arrangements. Confirming the agreement, the Swiss Government said that, “during its meeting [on June 20, 2014], the Federal Council gave the go-ahead for the initialling of a mutual understanding between Switzerland and the EU on business taxation. On the EU side, the Economic and Financial Affairs Council [has also] approved this understanding. The business taxation dialogue between Switzerland and the EU is thus nearing completion.”