
Both chambers of the Swiss Parliament on 30 September 2016 unanimously approved the “small revision” value added tax (VAT) legislation that is expected to be effective 1 January 2018 (when adopted as a VAT Ordinance by the Federal Council).
The Swiss tax authorities expect approximately 30,000 new taxpayers—for the most part, foreign companies—would be affected by these new VAT provisions.
With these changes, there are actions that foreign suppliers in Switzerland need to take including:
Swiss domiciled companies and branches that are not yet registered need to verify whether registration is mandatory under new law (due to international revenue totals).
Other changes may include:
Read a September 2016 blog report prepared by the KPMG member firm in Switzerland
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.