Switzerland increases tax payment interest rates

15 September, 2023

On 11 September 2023, the Swiss Federal Tax Administration announced amended interest rates for late payment, refund, and advance tax payments. The announcement includes interest rates as follows:

Interest rate for late payment and refund – 4.75% (currently 4%).
Interest rate for advance tax payments – 1.25% (currently 0%).

The increased interest rates will apply form 1 January 2024. The interest rates apply to taxes such as VAT, withholding tax, direct federal tax, tobacco tax, motor vehicle tax, mineral oil tax, distilled water tax, stamp duty, and customs duties.

Europe

Switzerland

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