- Switzerland plans a temporary VAT hike of 0.5 percentage points, from 8.1% to 8.6%, starting in 2028 for 12 years.
- The extra revenue would fund higher military and security spending, including modernizing equipment.
- The original proposal was larger (0.8 points for 10 years to raise CHF 31 billion) but was reduced after public criticism.
- The measure still needs approval from parliament and a national referendum.
Source: nu.nl
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.
