No Match Found
In 2022 the percentage of companies rated Advanced overall (for the same sample as in the previous Swiss benchmark studies) doubled from 4% to a much more substantial 8%. The proportion meeting the standard of Medium disclosure remains unchanged at 38%. A 4-percentage point decline in the number rated Minimal overall (down to 54%) tallies with the 4-percentage point increase in Advanced disclosers.
The new sample (DACH Tax Transparency Study companies) yields slightly different results, with 4% rated Advanced, 33% Medium and 63% Minimal (see Figure 3). There are no year-on-year comparisons for this sample. However, the figures suggest that the DACH Tax Transparency Study companies lag the Swiss study companies slightly over all levels of disclosure.
Our 2022 study of Swiss companies suggests that the trend towards more transparency on tax continues, both overall and across all the areas of disclosure we measure.
We suspect that this will turn out to be a pivotal year in terms of public tax transparency. Why? Primarily because the EU’s public CbCR Directive takes effect and must be adopted in national legislation. This will be a gamechanger, and not just for the EU-based companies affected by the new regulations. Swiss entities of a certain size doing business in the EU’s single market will also feel the impact. For companies in scope, Country-by-Country Reporting will no longer be optional.
Partner, Tax Function Design and Tax Transparency Leader, PwC Switzerland
Tel: +41 58 792 47 16
Director, PwC Switzerland
Tel: +41 58 792 45 16