The European Council has assessed the state of the EU's relations with the Swiss Confederation and has expressed its opinion, inter alia, on the vote on Corporate Tax Reform III.

According to a media release of 28 February 2017 (point 9), the Council notes the negative outcome of the vote of 12 February 2017 on the Corporate Tax Reform III (USR III). The European Council underlines the need for fair tax competition and strongly encourages Switzerland to comply with its international obligations and to seek alternative solutions in order to effectively and rapidly eliminate the five tax regimes in question in accordance with the joint statement of the EU Member States and Switzerland on corporate taxation issues of 2014 (Joint Statement of 14 October 2014 between Switzerland and the EU Member States). The European Council will continue to follow this issue closely.

The Council Conclusions on the EU's relations with the Swiss Confederation are available inter alia in German and English.