Switzerland Intends to Implement 15% Minimum Tax as of 2024 (2)

The Swiss government intends to implement a minimum tax rate of 15% as of January 2024.

The new rules are aimed at multinationals, while domestically focused companies and small and medium enterprises won’t see any change, the Bern-based body said. Taxes will be collected by the Swiss cantons, who also will retain any additional tax receipts.

The OECD deal, agreed by around 140 nations last year, could effectively allow other countries to impose additional tax on undertaxed profits of multinationals in Switzerland. The Swiss government said by imposing additional tax on undertaxed firms itself, it will ensure large companies ...