Indirect Tax in Tax and Legal blog
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Approval of the Swiss VAT law partial revision and adoption of mandatory electronic VAT filing procedures
On 16 June 2023 the Swiss parliament approved the partial revision of the VAT law which includes significant changes entering into force as of 2025. On the same date, the Federal Council decided to amend the Swiss VAT Ordinance to enforce registration as well as settlements for VAT to be carried out exclusively electronically.
Join our insightful upcoming VAT Hybrid breakfast event on 16 March 2023 - simultaneously in Zurich, Geneva and virtually
We would like to invite you to our upcoming VAT Breakfast Event which will provide an update on recent Swiss and international VAT developments and upcoming changes. The event will take place on Thursday 16 March 2023 - at the same time in our Zurich and Geneva offices as well as online.
Increase in VAT rates effective from January 1, 2024 – final guidelines published by the Swiss Federal Tax Administration (VAT Info No 19)
As announced in our blog published on 26 September 2022, public voters have decided to increase VAT rates to finance “Current-age and survivors” insurance. On 7 February 2023 the Swiss Federal Tax Administration (SFTA) published VAT Info 19 which includes the respective guidelines and transition rules.
Corruption sanctions are the new political weapon of the EU to thwart kleptocratic behaviour and illicit money flows globally. The continuing trend towards values-based sanctions, such as corruption sanctions, shows a strong inclination on the part of like-minded governments to pursue an interconnected due diligence approach. Ursula von der Leyen, President of the European Commission, announced that the EC will prioritise defending European values abroad by introducing corruption sanctions. This calls for European companies, including Swiss ones, to ensure that their Sanctioned Party List (SPL) screening and Business Partner Due Diligence (BPDD) set-ups are up to date, interdisciplinary, complete, and reliable. Companies may have to rethink their country risk ratings.
Sanctions are more than just a trend and sanction compliance is now a new reality for Swiss businesses. While authorities and businesses in the US and the EU have gained experience on these topics over the last decades, the Swiss market has only recently started adapting to the ever-changing geo-political and sanction landscape.
Join our insightful upcoming VAT Hybrid breakfast event on 16 November in Zurich and/or follow-up apéro on 23 November in Geneva
We would like to invite you to our upcoming VAT Breakfast Event which will provide an update on recent Swiss and international VAT developments and upcoming changes. The event will take place on Wednesday 16 November 2022 in our Zurich office as well as online.
Join our Financial Services tax webinar on 9 November 2022 at 08:30 to discuss legislative developments, court cases and practice
We would like to invite you to our half yearly webinar where we provide key updates and discuss recent tax developments that are important for the financial services industry on Wednesday 9 November 2022 at 08:30.
Public Vote Confirmed Swiss VAT Rate Increase and Rejected the Reform of Withholding Tax – What’s ahead?!
VAT rate changes in Switzerland are quite common, mainly to finance “governmental projects”. The last VAT rate change took place in 2018. Based on our past experiences, we would generally expect the Swiss Federal Tax Administration (“SFTA”) to set transition rules covering both the tax point and resulting invoicing, as well as reporting rules. The key aspects mentioned hereinafter (subject to final publication and confirmation) will have to be considered from VATable persons in Switzerland.
The next generation of global trade automation has arrived in the new SAP GTS, Edition for HANA (E4H). Are you aware of the new solution and its capabilities? What are the key benefits and implementation options? How can the new system support your transition from e-dec to Passar?