Switzerland: Interest on Arrears will Apply Again from 1st January 2021

At the beginning of the COVID-19 pandemic, the Federal Council issued an ordinance providing for the waiver of late payment interest on taxes, incentive taxes and customs duties between March 20th and December 31st, 2020. As a result, the interest rate for late payment of VAT in effect during this period was 0%.

As this ordinance expired on 31st December 2020, the provisions on late payment interest (i.e. the ordinance on interest rates and interest rates on arrears) will apply again from 1st January 2021, which means a late payment interest of 4% per annum will once more be in force.



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