Swiss voters approve VAT rate increase to 8%
The VAT rate will increase to 8% from 1 January 2011
In a people’s referendum on 27 September 2009, an increase of the VAT rates was approved by a majority of 54.5% of the Swiss people.
The increase in the VAT rate will apply from 1 January 2011 until 31 December 2017, and will be as follows:
Standard VAT rate to increase from 7.6% to 8%;
Reduced VAT rate to increase from 2.4% to 2.5%; and
Special reduced VAT rate to increase from 3.6% to 3.8%.
Any questions in relation to the new Swiss VAT law coming into effect from 1 January 2010. Please contact your usual Meridian contact or local office for more information.