Plans by G20 nations to change corporate tax rules could hit Switzerland – and other countries have been invited by Swiss ministers to work together in an effort to limit the damage. Many countries are pushing on major corporations to pay tax on sales generated in their own territories – and not where the company happens to be based.
Such a move could cost Switzerland CHF 10bn according to the NZZ newspaper.
Nations that could also lose out include the Netherlands, Ireland and Luxembourg as well some Scandinavian countries.
Switzerland has suggested they all work together to minimize the risk.
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