Switzerland approves the ordinance on the country by country report

The ordinance approved on September 29 by the Federal Government contains the federal law’s implementing provisions about the automatic international exchange of country-by-country accounts of multinational corporations.

The reporting’s purpose is to counter the tax erosion base and the transfer of profits by companies. Swiss companies headed by multinational companies should develop country-by-country reporting for the first time in 2018 fiscal year.

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