Indirect Tax in Tax and Legal blog
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Join our upcoming SAP S/4HANA webcast: SAP document compliance in a changing tax landscape on 11 November, 13.00 CET
Join our webcast: SAP S/4HANA: SAP document compliance in a changing tax landscape on Wednesday, 11 November 2020 at 13.00 CET.
In many countries, it is becoming a legal requirement for organisations to issue documents electronically to their business partners and tax authorities.
The ‘digital tax authorities’ now require to be provided more frequently with invoices, ledgers/registers/books on a (near) real time-basis. Due to the continuously changing digital reporting requirements, it can be a difficult process for tax functions to manage. What steps can your organisation take to prepare for the changes?
25 years after the introduction of VAT in Switzerland, we reflect on how the Swiss VAT landscape would look like if Switzerland were part of the EU.
In the wake of the COVID-19 pandemic, organisations are speeding their move to cloud-based ERP solutions—and leaders are increasingly recognising the importance of seating tax at the planning table.
As the COVID-19 crisis has made crystal clear, agility is key to survival in the face of disruption. Those organisations foresighted enough to have digitised, automated, and cloud-enabled their back-office processes have been able to pivot toward recovery. Those still pushing paper and working with on-premise systems have struggled. In a matter of weeks, the benefits of cloud-based back-office environments became painfully obvious.
25 years of Swiss VAT – What a journey! Part 2: How it all began or “Whoever invented that was a genius!”
With this blog –Part 2 in our series to celebrate 25 years of VAT in Switzerland – we take a look back on how it all began. Whilst customs duties have existed for very long time, the concept of a tax levied on consumption is relatively recent. We only need to go back to the 17th century to, when the first consumption tax was introduced for financing an army and to 1918, when so-called gross VAT was introduced in Germany, the precursor of net VAT with input VAT deduction that was introduced in Europe in the late 1960’s.
We are moving to a real time data driven tax function. In order to meet tomorrow’s tax challenges, organisations need sustainable tax and business processes using the latest technologies.
In 1995, Switzerland introduced its VAT system. Therefore Swiss VAT is turning 25 this year. However, the system as it stands today has undergone extensive renewals over the years. Deloitte Indirect Tax team values the achievement of the many amendments introduced and herewith starts with a series of blogs providing interesting facts around particular topics, which we hope you will enjoy reading.
The COVID-19 crisis has changed the world just significantly since the beginning of 2020. The Swiss government, as well as the VAT Authorities, have taken actions that aim to support liquidity management for businesses in these challenging times.
Indirect tax being everywhere, COVID-19 triggers VAT and customs challenges but also opportunities. In-house indirect tax teams must therefore stay tuned to help the business going through these turbulent times.
The Swiss Federal Tax Administration has published its practice on how foreign businesses are obliged to report their turnover – an English version of the respective VAT–Info Brochure is now available as well.
The EU VAT Quick Fixes coming into force on 1 January 2020, it is still time for businesses to assess their situation and review their processes in place for EU B2B intra-Community supplies