Businesses should have the possibility to extend payment periods without having to pay interest on overdue payments.
For this reason, the interest rate for value added tax, customs duties, special excise taxes and incentive taxes will be reduced to 0.0 percent in the period from 21 March 2020 to 31 December 2020. No interest on arrears will be charged during this period.
The same regulation applies to direct federal tax from 1 March 2020 until 31 December 2020.
Finally, the Federal Finance Administration has instructed the administrative units of the Confederation to quickly check accounts, payable invoices and pay them as quick as possible, without taking advantage of the payment deadlines. This will strengthen the liquidity of the Confederation’s suppliers.
More information on this and other packages of measures to mitigate the economic consequences can be found under the following link.
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2 thoughts on “Switzerland – Liquidity buffer in the tax area and for federal suppliers”
[…] Source Mihaela Merz […]
thanks for the update