Do I need to file a tax return in Switzerland?
Do I?
In Switzerland you are required to file a tax return annually if you meet certain criteria:
you are a Swiss citizen
you have C resident permit
you have B resident permit and >CHF 120’000.- income per year
you own a property in Switzerland
How do I file my tax return in Switzerland?
The tax return process in Switzerland is similar to that in many other countries, but there are some unique aspects to be aware of. The first step is to obtain the necessary forms. Taxpayers can typically download the forms from their canton's tax administration website or request them by mail. The forms will ask for basic personal information, such as name, address, and date of birth, as well as details about income, deductions, and any tax credits that may apply. Once the forms have been completed, they must be submitted to the appropriate tax authority.
What about deductions?
In addition to basic information such as salaries, marital status, loans, and debts, there are other details you might want to declare to get deductions or avoid being taxed on assets in the future. These may include information about:
your real estate in Switzerland and overseas
non-cash assets such as shares, precious metals, gold, and cryptocurrencies
dividends received
donations
major medical costs that are not covered by insurance
When should I submit my tax return?
The deadline for filing tax returns in Switzerland varies depending on the canton, but it is usually March 31st. However, if you need an extension, you can request one until September. Make sure you have the right information to avoid penalties or delays.
What should I expect next?
After the tax return is submitted, it will be reviewed by the tax authority. If there are any discrepancies or issues with the return, the taxpayer may be contacted for further information or clarification. Once the return has been reviewed and any necessary adjustments made, the taxpayer will receive a tax assessment or a refund, depending on the outcome.
Should I get assistance?
It is worth noting that Switzerland has a relatively complex tax system, with different cantons and municipalities setting their own tax rates and rules. This means that the tax return process can be more demanding than in some other countries, and it may be advisable to seek professional tax advice or use tax preparation software to ensure that all of the necessary information is included and that the return is accurate. By properly preparing your tax return, you may be able to optimize your tax payment more than you thought, and benefit from tax savings.
Who can assist me?
If you own a property in Switzerland, need assistance filing your private tax return for 2022 or need an extension to file after March, F Trust can help. Our experienced team can provide you with the guidance, advice and services you need to protect your assets and maximize your savings. We specialize in both private and corporate accounting and can assist with all aspects of tax planning, preparation, and filing by simplifying the tax return process for you with our hands-on, organized tax planning, preparation, and filing methods.
Non-German or French speaker?
Whether you are a non-German or French speaker, we provide services in English, and you will always be in contact with the same team. Contact us at F Trust to learn more about how we can assist you with your private tax return in Switzerland.
F Trust provides a full service from providing list of shelf companies for sale, assisting with documentation of the company purchase, registering for changes on trade registry, providing domicile and director services as well as accounting and filing tax return. Feel free to contact us by email mail@ftrust.ch or call us on + 41 44 266 10 60 to book an appointment.
See related article:
Private tax return deadline extensions in Switzerland