To ease the economic consequences resulting from the COVID-19 pandemic, the Swiss Federal Council decided on 20 March 2020 to temporarily lower the interest rate for several late payments to 0%. As a result, between 20 March 2020 and 31 December 2020 no default interest was due for late payments relating to a.o. Swiss VAT, excise duties and customs duties. Similarly, also the interest rate for late payments concerning the direct federal tax was reduced to 0% and this for the period from 1 March 2020 to 31 December 2020.
Considering that the abovementioned measures have not been extended into the new year, the standard interest rate for late payments has gone back to normal as of 1 January 2021, i.e.:
- to 4 % for late payments relating to VAT
- to 3% for late payments relating Direct Federal Tax