In another important and unanticipated referendum result, Swiss voters rejected legislation that would have reformed the country’s controversial corporate tax system. Now, some feel Switzerland won’t be able to meet its promise to eliminate the special tax treatment it gives multinationals by 2019.
In any tax system, a high level of certainty is required for both ease of tax administration and the efficient collection of tax liabilities. Likewise, for companies and their stakeholders, domestic and international tax-related certainty is a fundamental goal. The UK’s EU referendum and potential exit from the European Union represent serious threats to this desired stability. And the biggest challenge businesses will face from a potential “Brexit” will be negotiating the resulting uncertainty.
The coming UK referendum on whether to remain in or leave the European Union could have serious ramifications for multinationals operating in the UK. This post is the first of a three-part Radius series examining a potential Brexit and the related legal, HR and tax implications companies should be aware of.
In this week's Global Glance we look at how Netflix’s world domination is almost complete, VW’s mounting legal troubles and the latest Big Mac index.
Earlier this month, UK Chancellor George Osborne announced his Summer Budget to Parliament. The Budget made news in the UK and beyond primarily for its plan to raise the UK’s National Living Wage at the same time that it cuts welfare benefits. While the new minimum wage requirement is noteworthy for multinationals operating in the UK, there are other aspects of the Budget that will more seriously affect those businesses, for better and worse.