What is VAT?
VAT is a consumption tax in Switzerland.
Companies generating more than CHF 100,000 in annual revenue must register with the Swiss tax administration and file VAT.
Current VAT rates
The following tax rates apply since January 1, 2024:
- Standard rate: 8.1%
- Reduced rate: 2.6%
- Special accommodation rate: 3.8%
Basic principle
A business collects VAT from customers and may deduct VAT paid on its own expenses as input tax.
The difference is reported quarterly to the Swiss Federal Tax Administration.
Formula: payment to FTA = VAT collected - input tax paid
The quarterly VAT filing process
- Collect and post documents
- Create the VAT report
- Enter values in the Swiss FTA's SuisseTax portal
VAT filing with fibu3
With fibu3 the filing process becomes much simpler:
- Support during posting with automatic VAT detection
- Quarterly report with all relevant figures
- Transfer values easily into the tax portal
Conclusion
VAT filing is mandatory, but with tools like fibu3 it no longer needs to be stressful.
Post correctly, review, transfer and you are done.
