The Swiss federal tax authority announced that a value added tax (VAT) reform measure concerning “low value” imports will be postponed to 1 January 2019. The VAT reform was originally scheduled to be effective 1 January 2018.
Overseas sellers that may be affected by the now-delayed revised law still need to be aware of the upcoming changes. With the delayed effective date, online marketplaces and logistic providers have more time to consider the impact of the law and contemplate the required actions within their organisation.
There are reports in the Swiss press that the delayed effective date will result in a loss of up to CHF 20 million in VAT revenue and that the broader Swiss economy could suffer losses of up to CHF 1 billion in revenues because of the overseas sellers’ price advantages.
Read a July 2017 blog item posted by the KPMG member firm in Switzerland
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