Kofax has been following the upcoming VAT rate changes in Switzerland, which come into effect on 1 January 2024. Kofax is supporting the rates. You can read more about the new rates here.

Despite the rates only coming into effect from 1 January 2024, there will be certain circumstances, although these are limited, where suppliers may need to use the new rates prior to 1 January 2024.

As a result, Kofax will support the new Swiss rates in our portal solution today. The following rates have been available for supplier selection since 29 August 2023:

• New standard rate: 8.1%
• New reduced rate: 2.6%
• New accommodation rate: 3.8%

Please refer the guidance from the Swiss Federal Council for further direction on when suppliers should invoice with the new VAT rates prior to 1 January 2024.

Kofax has communicated with our supplier and buyer customer base regarding the VAT rate changes in Switzerland.