Federal Council adopts partial revision of VAT Ordinance

• The Federal Council has approved a partial revision of the VAT Ordinance
• The revision includes implementation provisions for the amended VAT Act and independent adjustments, particularly regarding balance and flat-rate tax rate methods and portal obligations
• Changes were made in areas such as platform taxation, annual billing, subsidies, and cooperation between communities
• The voluntary balance and flat-rate tax rate methods aim to simplify tax planning and reduce administrative burden for taxpayers
• Changes in the ordinance aim to reduce tax planning opportunities and focus on simplified tax settlement
• Companies operating in multiple sectors can apply more than two balance tax rates, simplifying tax calculations for each sector
• Electronic portal of the Federal Department of Finance will be used for annual billing, balance and flat-rate tax rate methods, and group taxation
• The revised VAT Ordinance will come into effect on January 1, 2025, except for portal obligations which will be implemented on January 1, 2027

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.

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