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27 December 2023

Elimination of industrial tariffs

Summary

    Switzerland's decision to abolish customs duties on industrial products, ranging from bicycles to automobiles, electrical appliances, and a multitude of intermediate products such as aluminum, welding equipment, and plastics, marks a significant economic turning point. However, it is important to note that agricultural and fishery products and certain chemicals remain excluded from this reform.

    Droits de douane industriels, Économie suisse, Transformation économique, Tarif douanier, Importation en Suisse, Produits industriels, Fiscalité, comptabilité, accounting, Genève, Nyon, Lausanne, Morges, Montreux.

    Impact on businesses and manufacturing

    This initiative will significantly reduce acquisition costs for Swiss companies, particularly for raw materials and semi-finished products that are essential for the manufacture of capital goods. By lowering trade barriers, Switzerland is strengthening its competitiveness and attractiveness as a business and industrial location.

    Simplification of import procedures

    A notable aspect of this reform is the obsolescence of free trade agreements and the Generalized System of Preferences for the importation of industrial products into Switzerland. This simplification of import procedures is complemented by a significant reduction in the number of tariff positions, from 9,114 to 7,511, thereby simplifying the collection of customs duties.

    Consequences for customs procedures

    Despite these changes, customs procedures will remain unchanged. The obligation to declare imports, including the correct indication of tariff numbers, remains in force, ensuring the continuity of customs operations.

    Benefits for consumers and the administration

    This reform is a positive step forward for consumers, SMEs, and large companies in Switzerland, facilitating the integration of intermediate goods into production chains. The federal customs administration will also benefit from a reduction in the resources required for customs clearance and verification of rules of origin.

    The abolition of customs duties on industrial products in Switzerland from 2024 onwards is a major step towards a more open and competitive economy. This measure not only stimulates the domestic market but also simplifies international trade for Swiss companies.

    For complete and accurate information, please visit the official website of the Federal Customs and Border Security Office.

    Our tax department at Kaurum is ready to assist you and answer any questions you may have regarding this change. Please feel free to contact us at: info@kaurum.com

    We are a Swiss fiduciary based in Geneva, Zurich, and Lyon. We operate throughout French-speaking Switzerland (Geneva, Nyon, Morges, Lausanne, Montreux, Martigny, Sion, Sierre, etc.) and German-speaking Switzerland (Zurich, Zug, Lucerne, Basel, Bern, etc.).
    We help our clients achieve their goals by providing a one-stop shop for all fiduciary services: Business start-up, Accounting, Taxation, Auditing, Compliance and risk management, Financial advice, Shared CFO services, Setting up in Switzerland, Board of directors mandates, Domiciliation, Legal advice.
    Kaurum fiduciaire Genève - Photo Nicolas Veron

    Nicolas Véron

    A recognized professional with more than ten years of experience in the fields of fiduciary, taxation, law and business. Nicolas assists clients in areas as varied as auditing, accounting, taxation, financial consulting and compliance. He also regularly works on the establishment or relocation of international companies in various Swiss cantons.