Swiss State Proposes Company Tax Changes To Maintain Investment

Switzerland’s Canton of Basel proposed tax hikes and certain benefits for companies in its jurisdiction to maintain investment under the global minimum tax.

The Canton of Basel proposed in a press release Monday to lower the maximum reduction on profit tax from 40% to 5% under its patent box regime. It also aims to introduce a new 8.5% tax on company profits over 50 million francs ($55.95 million).

Basel’s local government sent the proposed package of changes called the “Basel location package” to the canton’s wider legislative body, called the Grand Council, for approval.

The local government plans ...