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Switzerland Approves Tax And Pension Overhaul
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20 May 2019 02:24 AM EST

According to a report by Reuters, on Sunday, Swiss voters approved a shake-up of the country's corporate tax system, heading off wheat its finance minister called an existential threat to Switzerland's role as a business hub. Projections from Swiss broadcaster SRF saw the measure passing in the binding referendum by a 66-34 percent margin. Finance Minister Ueli Maurer said that the vote on tax reform and pension finance defuses a long-lasting row over favorable Swiss tax rates for multinational corporations.

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