Switzerland approves increasing VAT rates in 2024

Switzerland approves the general raise of all VAT rates in 2024. Updated VAT return form available.

##Update April 2023: Swiss authorities have already published the updated VAT return form including the new VAT rates applicable as of 1 January 2024. The updated form will be used from 1 July 2023, regarding reporting periods July 2023, Q3 2023, and second semester 2023. 

The updated VAT return form includes boxes for transactions at the current VAT rates and also at the future VAT rates applicable from 2024. Find here the new VAT return form.##

Switzerland approves the raise of VAT rates in 2024, after the voting procedure that took place the last 25 September.

As a result, the Swiss VAT rates will change as follows:

  • Standard VAT rate: 8.1%, instead of the current 7.7%
  • Reduced VAT rate: 2.6%, instead of the current 2.5%
  • Special VAT rate for accommodation: 3.8%, instead of the current 3.7%

It is expected that the new VAT rates enter into force in January 2024.

It is important to assess the impact of these rate changes in your compliance function. Your VAT reporting team should ensure correct reporting of transactions spanning periods under different rates. Credit notes and continuous supplies of services often raise questions about your correct reporting obligations. Contact Marosa to clarify tax point rules and VAT reporting obligations ahead of the VAT rate changes in Switzerland.

For an overview of EU VAT rates, have a look at our dedicated article on VAT rates in Europe.

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