The FTA claimed that Johnson Matthey Switzerland should have charged VAT not only on its refinery services, but also on the value of its customers’ refined precious metals. The Federal Supreme Court’s decision, which was very clearly in favor of Johnson Matthey, holds that only the fees for the refining of the precious metals must be charged with VAT and that the value of the refined precious metals returned to the customers is not subject to VAT. Accordingly, the court indicated that the FTA’s long-standing practice needs to be revised.
Source: bakermckenzie.com
Latest Posts in "Switzerland"
- Swiss National Council Backs VAT Increase to Fund 13th Pension Payment for Seniors
- Swiss Court Decisions Clarify VAT Exemptions for Financial Intermediation, Aligning with EU Rules
- Switzerland’s New Packaging Ordinance: EPR Mandates for Sustainable Circular Economy by 2027
- VAT in Switzerland – A comprehensive up to date guide
- Switzerland Simplifies VAT Compliance: No Security Deposits for Non-Resident Companies, Fiscal Representation May End
