Switzerland:
Publication Of The Federal Department Of Finance: Refund And Default Interest Rates As Of 2024
05 December 2023
Eversheds Sutherland
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The Federal Department of Finance (FDF) has published the 2024
rates on refund interest and default interest on 11 September 2023.
For the first time since the 2016 tax year, interest on voluntary
prepayments will be remunerated again for federal taxes.
As of 1 January 2024, the refund interest and the default
interest rate will be set at 4.75 percent (previously at 4 percent)
due to the rise in overall interest rates.
The interest rate on voluntary advance payments for the federal
taxes will be increased to 1.25 percent (previously at 0
percent).
The rates are relevant for all federal taxes, amongst others for
direct federal tax, value added tax (VAT), withholding tax, customs
duty incl. tobacco, beer and alcohol tax and stamp duty.
The increase in interest rates is estimated to generate
additional revenues of approximately CHF 30 million for the
Confederation and near to CHF 4 million for the Cantons.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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