Changes to VAT Rules from January 1, 2025

As of January 1, 2025, significant changes have been introduced to the VAT law. Below is a summary of the main updates:

1. Mandatory electronic processing of VAT data.
2. Introduction of more than two VAT rates for the flat-rate and balance methods.
3. Option to choose annual VAT reporting.

Full details are available in the documentation of the Federal Tax Administration.

Changes and Updates in Banana+

• Electronic processing is already possible with the VAT Reporting Effective Method and Net tax rate extensions.
• For the new balance/flat-rate calculation, we are awaiting the publication of the eCH-0217 VAT Standard specifications, which will be released soon. As soon as possible, we will update the relevant extension and documentation.
• For the annual VAT reporting, the VAT Codes table will be updated with the addition of a code to identify advance payments made during the year. The control printout for the annual report will include these payments.