Switzerland Seeks Comments on Amendment of VAT Ordinance to Implement Rate Changes, Administrative Improvements

The Swiss Federal Council Oct. 25 opened a consultation to partially amend the VAT ordinance, to incorporate amended VAT rates and implement administrative improvements. The draft ordinance includes measures to: 1) simplify and revise the balance and flat tax rate methods; 2) require mandatory usage of the electronic portal for applications and declarations related to the balance and flat-rate methodologies, annual settlements, and group taxation; 3) adjust and approve the amended net and flat tax rates; 4) clarify input tax deductions and import tax exemptions; and 5) implement a VAT reporting procedure for taxable cash payments of 15,000 Swiss francs ...