Swiss voters on Sunday clearly rejected plans to overhaul the corporate tax system, sending the government back to the drawing board as it tries to abolish ultra-low tax rates for thousands of multinational companies without triggering a mass exodus.
Most Swiss recognised the country needs reform to avoid being blacklisted as a low-tax pariah. But new measures proposed to help companies offset the loss of their special status breaks had created deep divisions.
"The Commission is very disappointed by the results of a referendum in Switzerland," European Commissioner for Economic and Financial Affairs Pierre Moscovici told a news conference.
"The rejection of the reform and referendum means we need to redouble our efforts when it comes to taxation. The Commission plans to consult the member states so we can decide together how to proceed," he said.
(Reporting By Jan Strupczewski and Waverly Colville; editing by Philip Blenkinsop)
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