05.27.22
Anticipated increase in VAT rates
A few months ago, we oversaw Poland applying greater autonomy to determine their own VAT rates.
More recently in Switzerland, we can see how the economic measures a country enacts can have a significant effect on the VAT rates a country deploys.
In December 2021, the Swiss Parliament approved the AHV (Old Age and Survivors Insurance) 2021 reform. The measure aims to maintain AHV benefits- but this will come at a cost. Specifically, to meet additional costs for this measure, an increase in the VAT rates has been proposed.
The VAT rate increases are expected in line with the following:
- Standard rate: from 7.7% to 8.1%
- Reduced rate: from 2.5% to 2.6%
- Rate for accommodation: from 3.7% to 3.8%
A referendum is expected in autumn 2022 to approve these rates. If approved, these are expected to take place in 2023.
Tungsten Network will monitor any new tax rates, if approved, in Switzerland and ensure these are implemented as part of our portal solution.
Compliance is complicated
Want to learn more about how Tungsten Network makes the process of staying compliant easier?
Browse Switzerland updates
Electronic process for VAT registrations and VAT returns
- Country updates
Further guidance on new VAT rates
- Country updates
VAT return modifications to accommodate new tax rates
- Country updates
Revised VAT rates – further guidelines
- VAT/G(S)ST rate information
Confirmation of new tax rates
- VAT/G(S)ST rate information
VAT rate increase
- VAT/G(S)ST rate information
Proposed VAT rate increase
- VAT/G(S)ST rate information
Anticipated increase in VAT rates
- VAT/G(S)ST rate information