- The Federal Council has approved a partial revision of the VAT Ordinance
- The revision includes implementation provisions for the amended VAT Act and independent adjustments, particularly regarding balance and flat-rate tax rate methods and portal obligations
- Changes were made in areas such as platform taxation, annual billing, subsidies, and cooperation between communities
- The voluntary balance and flat-rate tax rate methods aim to simplify tax planning and reduce administrative burden for taxpayers
- Changes in the ordinance aim to reduce tax planning opportunities and focus on simplified tax settlement
- Companies operating in multiple sectors can apply more than two balance tax rates, simplifying tax calculations for each sector
- Electronic portal of the Federal Department of Finance will be used for annual billing, balance and flat-rate tax rate methods, and group taxation
- The revised VAT Ordinance will come into effect on January 1, 2025, except for portal obligations which will be implemented on January 1, 2027
Source: admin.ch
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
