Swiss aim to simplify VAT as UK hikes tax

24th June 2010, Comments 0 comments

The federal government announces progress is being made in its VAT reform package which would introduce a new flat 6.2 percent rate across Switzerland. A business lobby group welcomes the move, although consumers may feel a pinch when food consumption tax rises to meet the new flat rate. Nonetheless the Swiss continue to pay much less VAT than the UK where the government slaps a 20 percent tax on goods and services.

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