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.
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