Switzerland to Implement Global Minimum Tax Rule Next Year

Switzerland will implement one of the key rules of the global minimum tax starting next year.

The Swiss Federal Council on Wednesday said it will implement the income inclusion rule from 2025, but will opt to not implement the so-called undertaxed profits rule because “the risks associated with such a move would outweigh the revenue potential of a UTPR.”

The implementation of the IIR will allow the government to tax the profits of foreign subsidiaries of Swiss companies. The government said it expects to collect between CHF 500 million ($590 million) to 1 billion ($1.2 billion).

• With the ...