Federal Council wants to wait with the introduction of the OECD minimum tax
Published: Monday, Dec 11th 2023, 15:40
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The Federal Council assumes that the majority of EU and industrialized countries will introduce the OECD minimum tax on January 1, 2024. Nevertheless, it is waiting until the last moment to see whether competitor countries will do the same, announced Head of Finance Karin Keller-Sutter during question time in the National Council on Monday.
Only the current Polish government is not introducing the OECD minimum tax, Keller-Sutter replied to a corresponding question from National Councillor Thomas Matter (SVP/ZH). As this is an EU directive, the latter will initiate infringement proceedings against Poland. Ireland and the United Kingdom have also introduced the OECD minimum tax. In the case of Ireland, the introduction is the subject of the budget debate in the Irish parliament. Keller-Sutter went on to say that Spain would not introduce the minimum tax until the spring.
The Federal Council will decide on the entry into force of the OECD minimum tax by the end of 2024.
In mid-November, the Economic Committee of the Council of States (WAK-S) recommended that the Federal Council examine whether the implementation of the OECD minimum tax should be postponed. It is becoming apparent that fewer countries than expected are likely to introduce one by the beginning of 2024.
Large majority among the people in June
In addition, the OECD has adapted the guidelines since the referendum on June 18, the WAK-S also stated. This "changed starting position" should be "taken into account in the interests of companies in Switzerland". The committee therefore recommended that the Federal Council consider postponing the entry into force of the minimum taxation by one year for the time being.
In the global fight against tax havens, 140 countries agreed to tax large corporations globally at a minimum rate of 15%. The people and cantons gave the green light for a corresponding constitutional amendment on June 18 of this year with a large majority of 78.5 percent. The tax could therefore have been implemented at the beginning of 2024. Work is currently underway in all cantons.
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