Are financial transactions subject to VAT?

Financial transactions are not subject to VAT across Europe.

Legal situation in Switzerland

  • Federal Law on Value Added Tax (Value Added Tax Act, MWSTG) - See Appendix at the bottom of the page
  • On page 13, article 21, paragraph 19 C: the following transactions in the field of money and capital movements: The following are exempt from VAT: c. sales, including brokerage, in deposit and current account transactions,┬áin payment and transfer transactions, in business with monetary claims, checks and other commercial documents; However, the collection of receivables on behalf of the creditor (collection business) is taxable,

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