Hi there,
I’ve just noticed in my Shopify Payments payouts that Swiss VAT is being charged on the processing fees. Is this normal?
Under Swiss VAT law, financial services, including payment processing, are usually VAT-exempt. I’ve been running my Shopify store for over 10 years and have used several different payment providers in the past until switching to Shopify Payments about a year ago.
I’ve reviewed all past providers, and none of them applied VAT to their processing fees. Only Shopify Payments does.
Can anyone confirm whether this is normal?
Thanks in advance!