Federal Parliament considers tax cut for corporations

On 1 October 2007, the Federal Parliament submitted to the Federal Council a request for a tax cut. According to this request, the profits tax rate would be reduced from 8.5% to 5%. The reduction would result in a decrease of federal profits taxes of approximately CHF 4 billion (approximately EUR 2.4 billion). The Federal Council is now responsible for investigating a potential reduction of public expenditure to absorb tax deficits. The request submitted by the Parliame…