For 2021 tax returns the official FTA exchange rates are: Income Wealth USD 1 = CHF 0.9143082 CHF 0.911141 EUR 1 = CHF 1.08101082 CHF 1.036150 GBP 1 = CHF 1.25746523 CHF 1.234099 Official foreign exchange rates as of 31 December 2021 are available here. In this list are also included rates to […]
Accounting for VAT can take many forms. Here we make the distinction between The Standard Method and the Net-Rate Tax Method. Standard Method for VAT Can be used by all businesses operating in Switzerland. Any business with a taxable turnover exceeding CHF 100,000 per annum is required to register for VAT (this excludes for instance […]
Taxes for foreign workers in Switzerland operate differently depending on the place of residence and how long the worker has been living in Switzerland […]
For 2020 tax returns the official FTA exchange rates are: Income Wealth USD 1 = CHF 0.93808189 CHF 0.883944 EUR 1 = CHF 1.07045366 CHF 1.081550 GBP 1 = CHF 1.20387835 CHF 1.208300 Official foreign exchange rates as of 31 December 2020 are available here. In this list are also included rates […]
Many small businesses that are just starting out in Switzerland are unaware of the many different types of social charges and insurances that are compulsory in Switzerland when you pay a salary from a business you have registered. Here we give a brief run-down of what these are: OASI (AVS or AHV) – Old Age […]
If you run a business in Switzerland it may be advantageous for you to consider buying a car on behalf of the company. The car can then also be used for personal purposes. The private use of the vehicle is then counted as a taxable benefit to the user. Car allowance benefits are calculated at […]
Employee shareholdings (as well as stock options) is a well-known and attractive way of motivating and compensating employees, and of aligning their interests with those of other shareholders. This system has traditionally not been as widely used in Switzerland as in other countries, and a large reason for this has been some taxation traps. This […]
The advantage for a company of making provisions is that disclosed profit can then be reduced, and shareholders receive fewer dividends for distribution. This allows the company to keep money internally for its own growth. These reserves can then be used should the company come across a difficult year when this provision can be released. […]
Most businesses in Switzerland, and Europe, are subject to some form of Value Added Tax (VAT). If the issuer of the invoice is based in Switzerland then the invoice needs to contain, at a minimum: The VAT number and the name & address of the provider of the good or service A true description of […]
An overview of payroll social charges in Switzerland […]