Switzerland “under pressure” between the EU and the United States

Switzerland, stuck between the EU and the United States, finds itself ‘in a critical phase’ regarding corporate taxation, said Karin Keller-Sutter on Thursday in Davos. Brussels still exerts ‘financial pressure’ on Bern while Washington does not follow the rules.

Since January, Switzerland has applied the minimum taxation of multinationals required by the OECD. The United States, a member of the organization, does not apply this rule ‘which reduces competitiveness’. ‘It was Washington’s idea,’ declared the President of the Confederation to the press at the World Economic Forum.

Switzerland, which is ‘always under financial pressure’ from the EU, therefore finds itself between two systems, continued the Saint-Galloise. Berne is ‘in a critical phase’ and the files will be closely monitored, she added.

The finance minister said she hoped to be able to meet her American counterpart quickly, ensuring that Switzerland would have a plan to defend the interests of its economy.

/ATS