Swiss cantons mull lower taxes for wealthy executives

Swiss Finance Minister Ueli Maurer has hinted that cantons might lower income taxes for well-heeled executives as the country braces for the impact of a minimum corporate tax rate. Speaking to the NZZ am Sonntag newspaper, Maurer said cantons are discussing the idea of reducing upper rates for high earners. As in many countries, people pay progressively higher rates in Switzerland when their incomes reach a certain level. “I could well imagine that some cantons will flatten out tax progression a bit to become more attractive for high-income employees,” said Maurer on Sunday. However, he pointed out that this is a decision for individual cantons, rather than the government. This certainly appears to be a possibility in canton Zug, which is home to many multinational companies. Lowering income taxes in this way would be “a good way to keep Zug as an attractive location”, canton Zug finance director Heinz Tännler told the newspaper. No decision has been taken so far and the canton...