- The Swiss Federal Council has announced that a revised VAT law will be effective from January 1, 2025, allowing Swiss VAT-registered companies to opt for annual VAT reporting.
- To qualify for annual reporting, businesses must have a taxable turnover below CHF 5,005,000 and a history of timely VAT return submissions and payments.
- The revision also removes the need for foreign taxpayers to have a fiscal representative and introduces joint liability for directors on VAT debts, along with other compliance rule changes.
Source Taxually
