In response to the implementation of the Pillar Two global minimum tax in Switzerland, effective from 1 January, 2024, several cantons have adjusted their tax rates or initiated projects to enhance their appeal as business locations.
The Canton of Schaffhausen, which applied a corporate tax rate below 13.8% in 2023, will introduce a progressive corporate tax rate starting in 2024.
From 2024 onwards, profits exceeding CHF 15 million will be imposed at an effective tax rate (including federal taxes) of 15%.
The Canton of Geneva has increased its effective corporate tax rate (including federal taxes) from 14% to 14.7% and abolished the municipal business tax.
The Canton of Grisons has proposed a draft bill for consultation, aiming to reward companies whose activities enhance the added value within the canton; strengthen research, development, and innovation, or improve environmental sustainability.
The Canton of Zug announced plans to support companies directly through subsidies, with comprehensive delegation powers granted to the government council.
