Geneva to cut corporate tax following EU pressure
Geneva has announced plans to slash its corporate tax rates.
The decision comes as the European Union increases pressure to end harmful tax practices that effectively give subsidies to multinational companies with offices in the canton.
The cantonal government say they will cut its corporate tax rate from 24% to 13.49% whilst ending special treatment for foreign firms.
The measure should come into force from 2019 and be subject to a five-year transition period.