New 2018 VAT rates

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As of 01.01.2018, new reduced VAT rates have come into force, according to the September 24th 2017 vote.

Banana Accounting 8 doesn't prepare the VAT report for the 4th Quarter 2017 and for those of the year 2018.
In order to obtain these reports, please update to Banana Accounting 9.

From on Banana Accounting 9, the new facsimile of the official VAT form can be obtained automatically. Those who are in possession of an earlier version can update the VAT-codes table with the new codes and rates, but can only create the VAT report and not the facsimile of the official VAT form. We therefore strongly advise you to update to Banana Accounting 9, specifically prepared for the transition to the 2018 VAT rates.

The accounting templates available on our website already contain the new VAT codes, with both the rates before and after the 2017 vote.

  Normal rate Special rate for the hotel sector Reduced rate
Current VAT rates 8.0% 3.8% 2.5%
- Additional funding from AI limited up to 31.12.2017 -0.4% -0.2% -0.1%
+ TVAT rates increase for FAIF 01.01.2018 - 31.12.2030 0.1% 0.1% 0.1%
VAT rates from 01.01.2018 7.7% 3.7% 2.5%

How to update your VAT Codes table with the new rates

We recommend that you do this at the beginning of 2018, before you start entering your 2018 transactions.
To update the VAT Codes table of your accounting file, proceed as follows:

  • Download and save this file -> VAT_Codes_2018
  • Open your accounting file
  • From the Account1 menu, choose the Import into accounting command and then select VAT Codes.


     
  • Using the Browse button, choose the path were you saved the file you downloaded -> VAT rates 2018
  • Confirm with the OK button.
  • A dialog window will appear were you can choose between two options:
    • Add new codes and new groups
      To be used when maintaining some of your own VAT codes. In this case, the program adds the new VAT codes while leaving the existing ones unchanged.
    • Replace all rows
      To be used if you do not need to keep the existing VAT Codes table.
      In this case, the VAT Codes table is completely replaced with the new table from the downloaded file.

  • Check your accounting file
    From the Account1 menu choose the Check accounting... command.
    If in your transactions there are VAT codes not present in the VAT Codes table, you need to enter the missing VAT codes or replace the existing ones with the ones from the new VAT Codes table.
    In order to speed up this operation you can use the Find and replace command from the Data menu.

Flat VAT rate

For the Flat VAT rate method, from 2018 new VAT rates will be applicable.
We recommend updating the VAT Codes table, replacing all the codes as described above.

  • If you use the end of the period VAT calculation method (without splitting the VAT amount in the transactions), you must enter the new VAT rate when proceeding with the VAT report.


     
  • If you however split the VAT amount for each transaction, you need to change your VAT Codes table entering the new rate.

For more information please visit the Swiss VAT tax report - Flat tax rate method page.

 

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