5 Major Developments in Switzerland

5 Major Developments in Switzerland

• Electronic-only VAT registration, payment and regularisations

• Switzerland agrees to partial revision of VAT Act

• Switzerland marketplace deemed supplier VAT rules 2025

• Federal Tax Administration announces VAT rate adjustments

• Increase to VAT rates effective 1 January 2024

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Bookkeeping

• Practice adaptation project Topic: Accounting and invoicing

Cryptocurrency and NFT

• Are there special VAT rules for Non-Fungible Tokens (NFT)? Part 2

Customs

• FTA – New edition of the brochure «The Swiss Tax System»

• New goods traffic system «Passar» goes live

• Switzerland to tax electric vehicles from 2024 – Import tax of 4%

Deduction (Input Tax Credit)

• Why a lack of compliance in the area of ​​VAT and customs can also be relevant from a direct tax perspective

• VAT rate on feminine hygiene products reduces from 7.7% to 2.5%.

E-Commerce / Electronic Services

• Switzerland marketplace deemed supplier VAT rules 2025

• Switzerland agrees to partial revision of VAT Act

• Switzerland will introduce deemed supplier rules for online marketplaces

• Switzerland to introduce platform taxation from 2025

• Lex Netflix and VAT

• VAT rate on feminine hygiene products reduces from 7.7% to 2.5%.

Exemption

• Switzerland agrees to partial revision of VAT Act

• VAT Info 21 concerning the Health sector

Importation

• Why a lack of compliance in the area of ​​VAT and customs can also be relevant from a direct tax perspective

• Pitfalls in the Application of the Transfer Procedure

Invoice

• Practice adaptation project Topic: Accounting and invoicing

Legislative Change

• VAT registrations and VAT returns must be submitted electronically as of Jan 1, 2024

• Approval increasing VAT rates in 2024, new VAT return available

Liability (Reverse Charge/Withholding)

• The Swiss Parliament has approved new VAT provisions

Place of Supply

• Switzerland agrees to partial revision of VAT Act

Rate

• Increase to VAT rates effective 1 January 2024

• Federal Tax Administration announces VAT rate adjustments

• Switzerland agrees to partial revision of VAT Act

• Guidance about reporting impact of VAT rates increase per January 1, 2024

• Changes in standard VAT rates in Estonia, Luxembourg, Singapore and Switzerland per Jan 1, 2024

• Swiss periodic VAT return modified to incorporate increase in VAT rates from January 2024

• Approval increasing VAT rates in 2024, new VAT return available
• VAT rate on feminine hygiene products reduces from 7.7% to 2.5%.

Refund

• The groundhog says hello every year: Apply for input tax refund now! Deadline approaching!

• Reminder of 30 June 2023 deadline to claim VAT refunds

Registration

• Turnover threshold non-profit organizations

• VAT rate on feminine hygiene products reduces from 7.7% to 2.5%.

Reporting / Compliance

• Electronic-only VAT registration, payment and regularisations

• Swiss Federal Council approved amend Liechtenstein VAT agreement

• Obligation to submit registrations and declarations to VAT electronically from 2024

• Switzerland electronic filings requirements 2024

• VAT registrations and VAT returns must be submitted electronically as of Jan 1, 2024
• Guidance about reporting impact of VAT rates increase per January 1, 2024
• Swiss periodic VAT return modified to incorporate increase in VAT rates from January 2024
• Approval increasing VAT rates in 2024, new VAT return available

Supply of Services

• Switzerland agrees to partial revision of VAT Act

Taxable Amount

• The VAT treatment of barter transactions

Taxable Transaction

• The VAT treatment of barter transactions

Tax Authorities / Penalties

• Switzerland agrees to partial revision of VAT Act
• Electronic-only VAT registration, payment and regularisations

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