In Switzerland, the Federal Council announced VAT measures to assist businesses with cashflow issues due to Covid-19. These measures include:
- Possibility for business to extend payment deadlines without paying interest on arrears;
- A reduction in the interest rate to 0% for VAT;
- A reduction in the interest rate to 0% for customs duties from 21 March 2020 to 31 December 2020; in addition to
- For the Swiss FTA to pay out VAT credits as quickly as possible without taking advantage of the payment deadlines.
Businesses must still submit VAT returns as normal and report the VAT due in the period.
For more information on Covid-19 VAT measures in Switzerland, please contact one of our VAT experts.
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