zurich, switzerland (reuters) – announced on wednesday that it would begin from 2020 to send to other countries, information on the activities of multinational companies located on its territory in the framework of international efforts to combat tax evasion.
the multinational companies based in switzerland, where corporate tax is among the lowest in europe are going to have to make a statement by 2018, activities, country by country, which will be able to know where they are and where they pay their taxes.
the government has also approved the list of countries with which the automatic exchange of information will be in force by the year 2020.
switzerland is implementing a minimum international standards of the project to combat the erosion of the tax base and the transfer of profits, “said the federal council, in a statement.
the purpose of this project is to improve the transparency of taxation of multinational enterprise groups, while providing a uniform framework for the exchange of statements “, he added.
this will involve approximately 200 companies whose turnover is higher than eur 750 million.
(john revill, bertrand boucey for service in french, edited by juliet rouillon.
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Translated by forexguides.info Team