Switzerland Increases VAT Rates Beginning in 2024
On December 9, 2022, the Swiss Federal Council set a date for the AHV 21 reform to come into effect, which includes a measure to increase the currently applicable VAT rates.
The new VAT rates will be applicable from January 1, 2024.
The VAT rates will change as follows:
- Standard rate - increased from 7.7% to 8.1%
- Reduced rate - increased from 2.5% to 2.6%
- Special rate for accommodation - increased from 3.7% to 3.8%
Companies must be ready to update their systems once the new rates are effective.
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