Switzerland’s Federal Council announced the launch of a public consultation regarding the legal framework for Pillar Two information exchange, allowing MNEs to submit data centrally and enabling jurisdictions to verify tax calculations on 29 January 2025.

The consultation will run until 8 May 2025.

Earlier, the Swiss Federal Council declared that the Pillar Two income inclusion rule (IIR) effective from 1 January 2025. The Swiss supplementary tax (QDMTT) has been in effect since 1 January 2024, but the undertaxed profits rule (UTPR) will not be implemented at a later time.