Bloomberg Tax
Aug. 17, 2022, 2:06 PMUpdated: Aug. 17, 2022, 3:14 PM

Switzerland Seeks Comment on Draft Global Minimum Tax Rules (1)

Hamza Ali
Hamza Ali
Senior Reporter International Tax

Switzerland published draft rules Wednesday explaining how it plans to implement global minimum tax rules for corporations.

More than 130 countries in October agreed to a two-pillar plan to change the way multinationals are taxed. Pillar Two of the plan would apply a 15% minimum tax on their global profits.

Switzerland’s announcement Wednesday joins the European Union, UK, and South Korea, which have also published draft laws for implementing the global minimum tax. In the EU, adoption of the tax has been stalled over Hungary’s objections.

When implemented, the draft ordinance will apply the global minimum ...