On 12 December 2022, the Swiss Federal Tax Administration published an update to its guidance on VAT rates, confirming that the rates will be increased from 1 January 2024 as a result of the public referendum held on 25 September 2022. In the referendum, Swiss voters approved an increase in VAT rates to fund the public pension system, including an increase in the general rate from 7.7% to 8.1%, an increase in the reduced rate from 2.5% to 2.6%, and an increase in the special rate for accommodation/lodging services from 3.7% to 3.8%.