Ordinance
on Value Added Tax
(Value Added Tax Ordinance, VAT Ordinance)

(Art. 24 para. 1 VAT Act)

¹ For pur­poses of cal­cu­lat­ing the VAT pay­able, con­sid­er­a­tions paid in for­eign cur­rency must be con­ver­ted in­to na­tion­al cur­rency at the date the tax claim arises.

² A con­sid­er­a­tion is in for­eign cur­rency if the in­voice or the re­ceipt is is­sued in for­eign cur­rency. If no in­voice or re­ceipt is is­sued, the book entry of the sup­pli­er ap­plies. It is ir­rel­ev­ant wheth­er the pay­ment is in na­tion­al or for­eign cur­rency and in which cur­rency the change is paid.

³ The con­ver­sion is made on the basis of the rate of ex­change pub­lished by the FTA, whereby the tax­able per­son may elect to use the av­er­age monthly rate or the daily ex­change rate.³⁷

^3bis Where the FTA does not pub­lish an ex­change rate for a for­eign cur­rency, the daily ex­change rate for the sale of the for­eign cur­rency pub­lished by a Swiss bank ap­plies.³⁸

⁴ Tax­able per­sons that are mem­bers of a group of com­pan­ies may use the group con­ver­sion rate for their con­ver­sion. This rate must be ap­plied both to sup­plies with­in the group of com­pan­ies and in re­la­tion to third parties.³⁹

⁵ The pro­ced­ure chosen (monthly av­er­age, daily or group rates) must be re­tained for at least one tax peri­od.