Switzerland Says Big Firms Will Pay More Tax After Global Reform

Switzerland will need to redouble its efforts to stay an attractive business hub because the global reform of corporate tax will mean some companies face higher levies in future, Finance Minister Ueli Maurer warned.

“It’s to be expected that firms, some firms in Switzerland will pay more tax,” he said at a briefing in Bern on Friday.

The seismic proposed change to the way companies are taxed under the auspices of the OECD are split into two so-called pillars. The first deals with questions of allocating profits for tax, while Pillar Two seeks to create a global minimum corporate tax ...