ARTICLE
5 December 2023

Publication Of The Federal Department Of Finance: Refund And Default Interest Rates As Of 2024

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Eversheds Sutherland

Contributor

Eversheds Sutherland
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...
Switzerland Tax

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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