Tax & Accounting Blog

Switzerland: Plans to Reform VAT Moving Forward

Indirect Tax, ONESOURCE, Transaction Tax, VAT Tax Rates February 8, 2013

CalculatorTapeSwitzerland is moving forward with plans to reform its VAT system. The Swiss Federal Council (the executive) recently responded with a “complementary message” to the mandate given to it by the Swiss National Council (the lower house of parliament), requesting that plans be drawn up for a new VAT model consisting of two tax rates rather than the current three. The National Council also stated that the reduced rate should apply to the services provided by the restaurant and hotel accommodation sectors in Switzerland. It is still to be discussed what other goods and services the reduced rate would potentially apply to.

 

Source: http://www.tax-news.com/news/Switzerland_Presses_Ahead_With_VAT_Reform____59528.html