Tax rate of at least 15 percent: Switzerland will introduce the OECD minimum tax for companies from January

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Finance Minister Karin Keller-Sutter wants to stick to the timetable for the implementation of the OECD minimum tax: large internationally active companies in Switzerland will be taxed at a tax rate of at least 15 percent from January 1, 2024. The Federal Council decided this during its meeting on Friday.

The rapid implementation will prevent tax revenues from flowing abroad, the Federal Ministry of Finance (EFD) wrote in a statement. The vast majority of EU countries and other Western industrialized countries such as Britain and South Korea also introduced the regulations in early 2024.

The people and estates said yes to the implementation

The implementation of the minimum tax in Switzerland takes place with a change in regulations, which provides for the levy of a new additional tax domestically. This required a constitutional amendment. The population and the cantons clearly approved this last June. After six years, the Federal Council must submit a federal law to Parliament.

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Even before the vote

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Cantons want to avoid the OECD minimum tax

OECD minimum tax arena

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In concrete terms, this concerns the second pillar of the OECD/G20 tax reform. The minimum tax affects companies that have a global annual turnover of more than 750 million euros. The Federal Council will later decide on the introduction of further elements of the reform, as he wrote.

Further decisions needed

This includes the international additional tax called IIR and UTPR. The Federal Council will monitor further international developments and decide on its introduction at a later date – if this is appropriate to protect Switzerland’s interests, it said. (oco/SDA)

Source:Blick

Livingstone

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