Government increases revenues through VAT
The government earned SFr13 billion through VAT levies in 1998, according to figures released on Thursday by the federal office of statistics.
The figure represents an increase of SFr500 million on the previous year. Taxable revenues increased by 5.2 per cent on 1997.
The statistics office said almost 290,000 companies posted VAT returns with a total turnover of SFr1,338 billion. Of that amount, SFr578 billion was taxable and SFr751 was non-taxable.
The increase in taxable revenues was double that of the country’s gross domestic product for the same year.
The increase in turnover was particularly strong in trade, manufacturing, the computer sector and business to business services.
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