Federal Council prepares for global minimum tax

The Federal Council took note on Friday of the planned approach to strengthen Switzerland as a business location.

Switzerland is preparing for a possible decision on corporate taxation on a global scale. The Federal Council took note on Friday of the planned approach to strengthen Switzerland as a business location.

The work of the OECD and the G20 on global corporate taxation is progressing, underlines the government. G7 finance ministers voted in early June for a minimum global tax of at least 15% for large multinational companies.

The OECD could reach a political agreement on certain benchmarks by the summer and the detailed provisions could be worked out by the end of 2021. In such a case, the Federal Council would have to decide on a plan. reform in the first quarter of 2022.

The work is already underway. The Federal Department of Finance (FDF) has been examining for a little over a year the possible transposition of an international standard into Swiss law. It is studying measures to ensure that Switzerland remains an attractive economic location.

The FDF will intensify this work in the coming months, in cooperation with the Federal Department of the Economy. Depending on the progress of the work of the OECD and the G20, a coordinated reform plan will likely be submitted to the Federal Council in the first quarter of 2022.

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