Switzerland has complied with repeated demands from the international community and largely abolished the tax privileges for international corporations and holding companies that had been criticized as unfair tax practices. What’s becoming more and more apparent, however, is that this has not taken any of the pressure off Switzerland. While the idea is for competition to increasingly take place through regular tax rates now that most of the exceptions have been eliminated, Europe’s high-tax countries of Germany and France want to eliminate this competition as well.
NZZ has published a report on KPMG’s Swiss Tax Report 2020. Both the article and a commentary can be found here (PDF, in German):