Switzerland Confirms Revisions to VAT Act

June 23, 2017 Andrew Decker

The Federal Tax Administration has announced the following revisions to the VAT Act, effective January 1, 2018:

  • First, all companies resident in Switzerland and all companies providing services in Switzerland will be liable to collect and remit taxes in Switzerland if their global turnover from non–exempted services exceeds 100,000 CHF.
  • Second, the reduced rate (currently set at 2.5%) will apply to books, newspapers, and magazines.
  • Third, immovable property will now be subject to VAT.

Additional changes, such as voluntary taxation of exempt services and changes to the treatment of antiques, will also take effect. Finally, starting in January of 2019 suppliers of imported goods that are not subject to import tax (meaning VAT on the import is less than 5 CHF) will be liable to collect and remit tax in Switzerland if they exceed the 100,000 CHF threshold.

The post Switzerland Confirms Revisions to VAT Act appeared first on Sovos.

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