Switzerland Tax Agency Issues VAT Guidance on Balance Tax Rates

The Swiss Federal Tax Administration Feb. 25 posted online guidance on balance tax rates. The guidance includes: 1) the balance tax rates for the motor vehicle industry, financial sector, sports, and other industries; 2) the exemption for travel and related services provided by travel agencies; 3) a provision for an annual accounting period for billing with balance tax rates, effective Jan. 1, 2025; 4) the introduction of changes to platform taxation; 5) an explanation of the SSS method, which regulates billing methods, input tax procedures, corrections when changing accounting methods, and tax declarations; and 6) transitional provisions concerning deadlines for ...