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The Wall Street Journal: Swiss corporate-tax overhaul soundly rejected by voters

ZURICH — Swiss voters Sunday rejected a corporate-tax-overhaul plan backed by the government and business, in a blow to the wealthy Alpine country’s hopes to bring its tax policies in line with international norms while maintaining its global competitiveness.

In rebuffing the government’s proposals, voters were swayed by concerns the plan was too generous to corporations at the expense of individual taxpayers. Proponents of the plan said its rejection places Switzerland’s economy — home to global corporate giants including Nestlé SA NESN, -0.20% Swatch Group AG UHR, +0.81% and UBS Group AG UBSG, -0.19% — at risk.

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