Switzerland: Parliament approves constitutional amendment to implement Pillar Two global minimum tax
Proposal to implement Pillar Two Model Rules providing for global minimum tax approved
Proposal to implement Pillar Two Model Rules providing for global minimum tax approved
The Swiss parliament today approved the proposal of the Swiss Federal Council to amend the constitution to implement the OECD’s Pillar Two Model Rules providing for a global minimum tax.
With this parliamentary approval, Switzerland is on track to implement global minimum taxation by 2024 as agreed by the EU member states. Read EuroTaxFlash
Next steps
The amendment of the constitution will be subject to a public referendum in June 2023. If confirmed, the Federal Council will implement global minimum taxation effective 1 January 2024.
The Federal Council in August 2022 launched a public consultation on a draft ordinance to implement global minimum taxation that would temporarily enable the minimum tax rules to become effective before being replaced by a formal legislative amendment, all of which is subject to the pending constitutional amendment. Read EuroTaxFlash
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