Effective January 1, 2024, Switzerland will abolish its industrial tariffs to “strengthen Switzerland’s position as a business and industrial location.” According to the notice, the potential welfare gains are estimated at CHF 860 million. Businesses in Switzerland are expected to benefit from cheaper inputs and thereby also from lower production costs.
Along with lifting industrial tariffs, Switzerland is streamlining its tariff structure for industrial products to reduce the administrative burden.
More information, including a list of the products affected by the change, can be found here:
