03 May 2018 Amended Swiss VAT Act affects VAT liability for both domiciled and non-domiciled companies Under the prior Value Added Tax (VAT) Act, in effect until December 31, 2017, a company in Switzerland became mandatorily liable to register for Swiss VAT if it generated turnover in excess of CHF100,000 from taxable supplies in Switzerland within a one year period. Under the revised VAT Act, in force as of January 1, 2018, the annual turnover threshold in excess of CHF100,000 remains unchanged but the amended reference is to worldwide generated turnover. In other words, turnover of CHF1 from supplies in Switzerland can now constitute a VAT liability if the worldwide turnover is in excess of CHF100,000. Document ID: 2018-0939 |
