On 9 December 2024, the Swiss Council of States (upper house of parliament) approved the ratification of the pending protocols to the income and capital tax treaties with Germany and Serbia. The protocol to the tax treaty with Germany, signed 21 August 2023, is the sixth to amend the treaty and includes updates in line with BEPS standards, as well as additional provisions to clarify the applicability of future national minimum taxation rules, which correspond to the Pillar 2 GloBE Rules. It will enter into force once the ratification instruments are exchanged and will apply from 1 January of the...