BERNE, Sept 14 (Reuters) – A Swiss
businessman-turned-politician is confident citizens will vote to
impose some of the tightest controls on fat cat pay in the
world, rejecting warnings from the country’s powerful business
lobby that the measures will scare big companies away.
Thomas Minder, elected last year as an independent member of
the upper house of parliament, has led a four-year campaign to
give shareholders a binding vote on the pay of company managers
and directors as well as ban golden handshakes and parachutes.
ZURICH (Reuters) – Switzerland will keep its special low-tax deals for wealthy foreigners such as music and sports celebrities but increase the amount of tax they pay following a vote by parliament which faced pressure to scrap the system.
The lower house of parliament voted late on Wednesday to reject a proposal by the center-left Social Democrats (SP) to scrap the tax breaks but adopted a government plan to raise the tax most rich foreigners have to pay.