Assets and foreign accounts – transparency pays off
Many countries only tax income, but Switzerland also taxes wealth, with rates varying by canton. This includes foreign bank accounts, real estate, and shareholdings.
What counts as taxable assets?
- Bank accounts (domestic and foreign)
- Real estate (e.g. holiday home in Italy)
- Shares and participations
- Life insurance policies with surrender value
- Precious metals, art, cryptocurrencies
Why is that important?
The tax authorities expect full disclosure of your worldwide assets, including smaller amounts. Failing to report foreign accounts may result in back taxes and penalties, particularly since international agreements (e.g., CRS) have greatly enhanced information sharing.
With our support, however, you can remain fully compliant without worrying about errors or missed declarations.
More key information for expats
Residence & tax liability
Expat taxation in Switzerland is determined by your residence, place of employment, and the specific type of residence permit you hold.
Withholding tax
Withholding tax is deducted directly from your salary but does not cover all deductions – we help with the subsequent correction.
Ordinary assessment
Withholding tax does not always cover everything – a voluntary assessment can lead to additional deductions and refunds.
International income
Do you work abroad while living in Switzerland? Your foreign income must be correctly declared in your Swiss tax return and taxed accordingly.
Double taxation
Foreign income does not have to be taxed twice – we check for you what has already been settled in the respective country.
Tax deductions
Even with withholding tax, it’s worth checking possible deductions – from commuting costs to pillar 3a, many expenses are deductible.
Spouse living abroad
If you and your spouse reside in separate countries, specific tax regulations apply – our specialists help ensure proper application.
Do you have any questions?
The question of how to declare foreign assets, especially digital assets or joint accounts, raises many questions. We are happy to provide clarity.