Switzerland raises taxes

The Swiss Federal Council issued the official statement in which it announced that the state continues the procedure for implementing the global minimum tax in accordance with Component 2 of the OECD Decision for the International Tax Reform.

As stipulated in the draft resolution on which consultations held in March 2022 and which published together with the statement, the Federal Council intends to ensure the minimum taxation in accordance with Component 2 by introducing an "additional tax". The additional tax will, in relation to large corporate groups (750 million euros of annual consolidated income), eliminate the gap between the effective tax rate and the minimum tax rate of 15%. The new rules should come into force on the 1 of January, 2024.

Link to source: https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-89425.html