Switzerland Reforms VAT Rules On Foreign Suppliers
The Swiss Parliament has passed reforms that will require all overseas companies with a turnover of over CHF100,000 (USD102,421) to impose value-added tax on transactions with Swiss customers.
Under the current rules, there is an exemption from import VAT for imported deliveries with a declared value of under CHF200. This will be removed.
There will also be a requirement on non-resident providers of services in Switzerland to register for VAT if their global income exceeds CHF100,000 a year.
No implementation date has been set for the reforms.
The Swiss VAT rate is eight percent, with a 2.5 percent rate for books.
Source: Tax-News
