Switzerland has approved new VAT rates to take effect from January 2024. The standard rate will increase from 7.7% to 8.1%, the reduced rate will increase from 2.5% to 2.6%, and the special rate for accommodation will increase from 3.7% to 3.8%. The updated VAT return form, which includes boxes for both current and future rates, will be used from July 2023 for reporting periods spanning July 2023, Q3 2023, and second semester 2023. Businesses should assess the impact of these changes on their compliance function and ensure correct reporting of transactions spanning different rate periods.
Source Marosa
Latest Posts in "Switzerland"
- New ESTV Portal Launches May 11, Centralizing Swiss Tax Online Services
- New FTA portal
- Company A’s Appeal on Input Tax Deduction Denied Due to Insufficient Invoice Evidence and Proof
- Implementation Costs for Social Support: Consideration or Subsidy? Federal Administrative Court Upholds Taxpayer Appeal
- Federal Court Upholds Retroactive Customs Duties for Misdeclared Refined Sunflower Oil Imports
