Financial Times FT.com

EU attacks ‘illegal’ Swiss tax rules

By Tobias Buck in Brussels and Haig Simonian in Zurich

Published: February 13 2007 21:37 | Last updated: February 14 2007 10:53

Swiss tax breaks that have enticed multinationals to move their headquarters out of neighbouring European Union countries are illegal state aid and must be scrapped, the European Commission said on Tuesday.

The move is a reflection of the frustration felt in a number of European capitals about the growing number of companies that have shifted their headquarters or distribution centres to Switzerland.

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