Switzerland votes 'yes' to keeping big business

Change: 66pc of voters approved the corporate tax code overhaul. Photo: Stefan Wermuth/Bloomberg

Catherine Bosley

Switzerland has approved an overhaul of the corporate tax code, choosing to stay an attractive base for companies such as Procter & Gamble, Vitol and Caterpillar even at the expense of a short-term drop in fiscal revenue.

The change was approved by 66pc of voters, according to a projection published by Swiss television SRF. A poll by gfs.bern had suggested it would pass.