Switzerland: Law implementing Pillar Two minimum tax rule enacted
The Federal Council enacted Pillar Two global minimum tax rules effective 1 January 2024.
The Federal Council enacted Pillar Two global minimum tax rules effective 1 January 2024.
The Federal Council on 22 December 2023 enacted Pillar Two global minimum tax rules effective 1 January 2024.
The enactment by the Federal Council follows the enabling amendment of the Swiss constitution. Read TaxNewsFlash
Under the rules, Switzerland only implemented a qualified domestic minimum tax (QDMTT) from 1 January 2024. The Federal Council decided to refrain from applying the income inclusion rule (IIR) and the undertaxed profits rule (UTPR).
Next steps
It is unclear if and when Switzerland is going to implement the IIR and UTPR, but it could be as soon as of 2025.
Read a December 2023 report prepared by the KPMG member firm in Switzerland
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