VATupdate
Switzerland

VAT should be processed electronically

At its meeting on June 29, 2022, the Federal Council opened the consultation on amending the Value Added Tax Ordinance. Registering and accounting for value added tax (VAT) will be done electronically in the future.

For several years, the Federal Tax Administration (ESTV) has offered the option of submitting VAT returns electronically. Almost all companies subject to VAT are already registering online, and 90% also do their accounting online. Now the remaining taxpayers (around 40,000) should do the same via the portal.

Using the portal is more advantageous for the taxpayers concerned, and by not having to print and send the paper statement, savings of around CHF 100,000 per year result. Changes in the VAT rate result in adjustments to the statement form, which are associated with high costs. The electronic procedure makes it easier to implement such changes.

The consultation period runs until October 21, 2022.

Source Admin.ch

Sponsors:

VAT news
VAT news

Advertisements:

  • VAT news
  • VAT news
  • VAT news