Switzerland Increases VAT Rates Beginning in 2024

December 12, 2022

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.

Timeline

The new VAT rates will be applicable from January 1, 2024.

New Rates

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.

How can Fonoa help?

Instantly determine the tax treatment of your transactions globally using Fonoa’s flexible and customizable tax engine. Our easy-to-integrate solution automatically keeps track of changing rates and rules to help your business stay compliant. Get in touch today.

Mil√°n Z√°modics
Tax Researcher

Mil√°n is an indirect tax professional specialized in VAT and tax compliance. Before joining Fonoa, he worked at EY Hungary, providing indirect tax advisory and compliance services for a wide range of international and local clients from all industries. He also worked with digital tax products that automate tax processes.