12.22.22

Confirmation of new tax rates

Tungsten has previously communicated on the upcoming proposed Swiss VAT rate increases expected in 2024.  

Switzerland has now confirmed new VAT rates in the country in line with the following: 

Normal rate 7.7% to 8.1% 

Reduced rate: 2.5% to 2.6% 

Special rate for accommodation services: 3.7% to 3.8% 

These will be effective from 1 January 2024.  

Switzerland is a compliant territory for Tungsten, and we will support the new rates in the country once effective.