Federal cabinet promotes lower single VAT rate

31st August 2010, Comments 0 comments

The value added tax is set to rise in Switzerland next year, with the standard rate jumping to eight from 7.6 percent under a plan approved by voters to subsidize the nations disability insurance programme. But the federal government hopes to introduce a simpler system with a single VAT of 6.2 percent, which it says would cut costs for most businesses, although food and hotel services are among those that would rise.

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