Yesterday, Switzerland issued an updated Draft Decree
for the Pillar Two Global Minimum Tax. This follows the previous Draft Decree
that was subject to a public consultation.
This Draft Decree provides:
– Procedural and administrative provisions.
The second Decree is subject to a consultation until September 14, 2023. Both Decrees will then be merged, taking into account the results of the consultation and any further technical requirements of the OECD.
Note that, a constitutional amendment is required to implement the GloBE Rules.
On December 16, 2022, the Swiss parliament approved the draft constitutional amendment for enacting the GloBE rules.
There will be a public referendum on June 18, 2023 and if approved Switzerland will implement the Pillar Two GloBE rules via the temporary decree of the Federal Council.