The Swiss set to make changes to VAT rate in 2018.
On Sunday, 24th September 2017, Switzerland voted against raising their standard VAT rate from the current 8% to 8.3%.
The poll regarded the pension reform plan that government propsed to address Switzerland's needs in an aging population. The proposal and the pension reform package would allow flexibility in retirement age and increase contributions from employers and employees.
Almost 53% of voters rejected the proposal. There is now a scheduled reduction in the VAT rate to 7.7% to go ahead on 1st January 2018. There will be no change to the reduced VAT rate of 2.5%.The special reduced VAT rate on hotels of 3.8% would fall to 3.7%.
Also, the Swiss have also decided to change their VAT rate on ebooks. The rate will reduce from 8% to 2.5% - bringing the VAT rate on ebooks the same as printed books.
While the Swiss are reducing their VAT rates, Lebanon are set to increase their VAT rate from 10% to 11% on the 1st October 2017.
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