- The Swiss Federal Council has opened the consultation for the partial revision of the Value Added Tax Ordinance (MWSTV).
- The revision includes implementing provisions for the partially revised Value Added Tax Act (MWSTG), simplifications in settlement with balance and lump-sum tax rates, and an expanded online obligation.
- The revision also aims to update and clarify the Value Added Tax Ordinance in various areas, such as the taxation of online platforms and the possibility of annual settlements.
- The balance and lump-sum tax rate method will be fundamentally revised to determine tax liability more accurately and simplify these settlement methods, benefiting small or medium-sized enterprises.
- As a measure to combat fraud, the reporting procedure will now also be mandatory for cash payments over 15,000 Swiss francs for taxable services between taxable persons.
- The draft also proposes that the use of the electronic portal be mandatory for applications and notifications for the balance and lump-sum tax rate methods, annual settlements, and group taxation, all of which are voluntary.
- The implementation is planned for January 1, 2025, including for annual settlements, which require extensive IT adjustments.
- The consultation period lasts until February 8, 2024.
Source: admin.ch
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
