Swiss VAT payers need to get prepared
In July 2018 the Swiss Federal Tax Administration (“SFTA”) informed VAT payers that the electronic VAT return will become the new standard and that Swiss VAT registered businesses will no longer have the possibility to file VAT returns on paper. The SFTA has not yet published any information with regards to when electronic filing will become mandatory. In a VAT specialist convention, however, they recently indicated that the 4th quarter 2019 VAT return should be the last return being accepted in paper format.
E-filing will not only be an obligation, but will also simplify compliance processes for VAT payers with the main advantages being:
- Full electronic submission of VAT returns - 24 hours a day and 7 days a week.
- Time and cost savings by eliminating postal services.
- Traceability of filing status at any time based on the declaration history.
- Increase of flexibility as user rights can easily be assigned to appropriate persons.
- Less paper consumption and thus a better conservation of natural resources.
Given the above, all Swiss VAT payers need to align with the new requirements and have to set-up an account in the “ESTV SuisseTax” portal in time.
Deloitte’s VAT specialists would certainly be pleased to guide Swiss VAT payers through the registration process and assist them with any related questions.
If you would like to discuss more on this topic, please do reach out to one of the key contacts below: