Friday , May 3 2024
Home / le News / End of tax-free online shopping delayed by a year

End of tax-free online shopping delayed by a year

Summary:
Last year Switzerland’s government announced plans to change the rules on charging VAT on imported goods. © Rido | Dreamstime Currently, most things ordered abroad and sent through the post to Switzerland that attract VAT of less than CHF 5, are waived through customs free of charge. This means if you buy clothing worth less than CHF 62.50, or books worth less than CHF 200, there is no import charge – a VAT charge of 8% on CHF 62.50 of clothing, and a VAT charge of 2.5% on CHF 200 of books, both come to CHF 5. It is important to note that freight charges are included when calculating the parcel’s value. The new rules, which require all foreign retailers generating annual global revenue of more than CHF 100,000 a year to charge Swiss VAT regardless of order value, were to come into force on

Topics:
Investec considers the following as important: , ,

This could be interesting, too:

Investec writes Swiss National Bank profits bounce back to record level

Investec writes Swiss health care costs continued to rise in 2022

Investec writes Swiss parliament rejects adding dental care to basic insurance

Investec writes Study shows how Swiss doctors and hospitals overcharge

Last year Switzerland’s government announced plans to change the rules on charging VAT on imported goods.

© Rido | Dreamstime

Currently, most things ordered abroad and sent through the post to Switzerland that attract VAT of less than CHF 5, are waived through customs free of charge.

This means if you buy clothing worth less than CHF 62.50, or books worth less than CHF 200, there is no import charge – a VAT charge of 8% on CHF 62.50 of clothing, and a VAT charge of 2.5% on CHF 200 of books, both come to CHF 5. It is important to note that freight charges are included when calculating the parcel’s value.

The new rules, which require all foreign retailers generating annual global revenue of more than CHF 100,000 a year to charge Swiss VAT regardless of order value, were to come into force on 1 January 2018.

Yesterday, the government agreed to delay implementation until 1 January 2019. According to 20 Minutes, Swiss Post needs more time set up the required technology.

More on this:
VAT to be charged on all online purchases (in French) – Take a 5 minute French test now

Facebook and Twitter.

About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *