Switzerland Cabinet Approves Temporary Regulation on Global Minimum Tax for Multinational Enterprises

The Swiss Cabinet of Ministers Jan. 13 announced the Jan. 12 approval of a temporary regulation to ensure the implementation of OECD model rules on the global minimum tax for multinational enterprises on Jan. 1, 2024. The announcement includes measures that would: 1) impose a 15 percent tax on international companies with annual global revenue of over 750 million euros (US$857 million); 2) ensure the collection of additional taxes by the cantons; and 3) apply general rules of national fiscal equalization on the additional tax revenue. The temporary regulation is expected to take effect Jan. 1, 2024. [Switzerland, Government Portal, ...