Federal Act on Value Added Tax

¹If the per­son li­able to tax has ac­quired col­lect­ors’ items such as works of art, an­tiques and such­like, in or­der to cal­cu­late the tax he may de­duct the pur­chase price from selling price provided he has not de­duc­ted in­put tax from the pur­chase price (mar­gin tax­a­tion). If the pur­chase price is high­er than the selling price, the loss may be set off, in that the dif­fer­ence is de­duc­ted from tax­able turnover.

²If such col­lect­ors’ items are im­por­ted by the re­seller, the im­port tax paid may be ad­ded to the pur­chase price.

³A per­son is deemed to be a re­seller if he acts for his own ac­count or for the ac­count of an­oth­er on the basis of a pur­chase or sales com­mis­sion agree­ment.

⁴The Fed­er­al Coun­cil shall de­term­ine what is deemed to be a col­lect­ors’ item.

⁵If two or more col­lect­ors’ items are pur­chased for an over­all price, the tax may be cal­cu­lated on the basis of the total dif­fer­ence between the over­all selling price and the over­all pur­chase price. The Fed­er­al Coun­cil shall reg­u­late the re­quire­ments.