Does my company have to pay acquisition tax?
As a Swiss company, you have to pay acquisition tax in the following cases:
- Your company is liable for value added tax in Switzerland and procures services from a foreign company that is not liable for value added tax in Switzerland.
- Your company is not liable for value added tax in Switzerland but you procure foreign services worth more than CHF 10,000 per year.
If the foreign company turns over more than CHF 10,000 worldwide, it is liable for value added tax in Switzerland. In this case, you don't have to pay acquisition tax.
How can I tell from the invoice whether acquisition tax is due?
Foreign companies are not obliged to declare that they are charging acquisition tax on the invoice. Your company must identify independently whether acquisition tax has to be paid.
And what about foreign languages?
In addition to its accounting abilities, Edi is also a real linguistic wizard. Its integrated Google Cloud Vision API OCR language support recognises multiple languages. This means it can recognise and correctly post receipts from all over the world. Training focus is on European languages and the Asian market. Because Edi is a cloud-based solution, existing customers also benefit immediately from new developments and optimisations.
Hand in hand with Edi
Edi can automatically tell from the receipt whether acquisition tax is involved or not. For example, the tool can classify the receipt in advance and add missing information before a specialist just confirms and approves this with a click. Not only does accounting save time and repetitive administrative work, it also benefits from Edi's comprehensive knowledge of acquisition tax and how to process it correctly.