This is an automatic translation, which is why errors may occur
The Federal Council today published its dispatch on the implementation of the OECD/G20 project on the taxation of the digital economy. This marks the start of the tightly timed parliamentary consultation. The bill must still be dealt with by the Federal Councils this year so that it can enter into force on January 1, 2024, following the mandatory referendum in June 2023
This morning, the Federal Council presented the federal resolution on special taxation of large corporate groups (implementation of the OECD/G20 project on taxation of the digital economy). In terms of content, the Federal Council’s plans stipulate that 75 percent of the additional revenue from the OECD minimum taxation should go to the cantons. The cantons are free to decide how to use it. The remaining 25 percent will go to the federal government, which is to use it for location promotion measures, etc.
SwissHoldings welcomes the draft presented today in principle. However, we are of the clear opinion that the funds gained as a result of the new minimum tax rates should flow back to the cantons in full. The cantons need these funds in order to maintain the economic attractiveness for companies and also to secure the high tax revenues of the Confederation amounting to around CHF 12 billion.
Further procedure
SwissHoldings will represent the position of Swiss multinational industrial and service companies next Monday at the hearings in the two preliminary economic commissions of the National Council and the Council of States. Subsequently, the Council of States will deal with the bill, the first reading will take place during the autumn session (Sept. 12-30). The reading in the second council as well as the possible revision of differences is planned for the winter session (Nov. 28 – Dec. 26). The parliamentary deliberations will thus already be completed this year and SwissHoldings will closely monitor the content. The mandatory referendum on the amendment of the Federal Ordinance will take place in June 2023.
In parallel to the constitutional vote, the Federal Council is pressing ahead with the work on issuing the Federal Council Ordinance on the implementation of the OECD minimum taxation. The corresponding consultation is expected to be opened in August. If the constitutional amendment is approved by Swiss voters, the (definitive) Federal Council Ordinance should be issued in the second half of 2023 and come into force on January 1, 2024.
For more information on the OECD Digital Taxation Project, see the SwissHoldings dossier OECD Digital Taxation Project.
For information:
Dr. Gabriel Rumo │ Director │ 079 712 20 20
Martin Hess │ Head of Taxes, Member of the Executive Board │ 078 805 04 95
Pascal Nussbaum │ Head of Communications & Public Affairs │ 079 798 52 40
