20 November 2019

Value added tax is not equal to income tax

If you are a member of the growing community of independent entrepreneurs and freelancers and run your own business, you might also be part of the group of people getting confused with value added tax (VAT) and income tax. “I already charge my clients 7.7% which I cannot keep” is what you might think.

Unfortunately, VAT and income taxes are two completely separate concepts. If you charge more than CHF 100,000 to your customers in a tax year, you must charge VAT to them, below this limit, it is discretionary.

If it makes sense or not to “opt in” below the limit requires some considerations we are happy to help you with.

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Alex Troschel
SimplewealthKickstartTroschel Treuhand & Beratung
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