Stamp duty and value added tax explained with pastries
When you buy your morning pastry at the bakery, you pay VAT on it. When you buy shares through your bank, you don’t pay VAT on them, but you do pay stamp duty. In a referendum on 13 February 2022, the Swiss people will vote on partially abolishing this stamp duty. So two products, but different forms of taxation – that’s the narrative the opponents are pushing. Is that unfair? Not at all! Is it illogical? Absolutely not! But why not?