Merz Striving For Lowest Rate Of VAT In Europe
Speaking in the national media at the weekend, Swiss Finance Minister Hans-Rudolph
Merz has floated a plan to simplify and cut value added tax in Switzerland over
the next three to four years. Currently, the rate of VAT in Switzerland stands at 7.6%, although there are
many variations and exemptions for individual industries and economic sectors.
For example, the hotel industry pays VAT at a rate of 3.6%. However, in an interview with the NZZ am Sontag newspaper on Sunday, Merz said
that the system was becoming far too complex to administer and had become a
burden for the country's small and medium-sized businesses. "Nobody can find their way through this muddle where there will soon be
27 exceptions," he observed. Merz went on to add that his goal was to see Switzerland have the lowest rate
of VAT in Europe at somewhere between 5% and 6%. He stated that the changes
could be in place by 2008, and that his proposals had the support of the hotel
industry. .
|
|
IMPORTANT NOTICE: THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright THE LOWTAX NETWORK 1999 to 2009. Contact us for further information.