Are capital gains taxed in Swiss?

From what? If it is property in Switzerland very much so. Also profit on shares can be, and interest on capital very definitely...

Sorry , I should have mentioned "stocks"

In canton Zurich if it it not your business to trade in stocks and shares, but you do it as an individual as a 'hobby' there is no capital gains tax....

But you get taxed on wealth tax no?

I realise that this is a fraction of what capital gains usually is, but they still a cut of your money from somewhere.

Well that's irrelevant - if there was cgt you'd still have wealth tax so would pay twice .

So, if I understood you all right, that means that if I buy and sell stocks, as a hobby, and get a profit while doing that I'm not taxed on that profit?

In Spain you have to pay 20% of the gain you make, when selling your stocks, to the Agencia Tributaria=Inland Revenue...

True. You are not taxed if you make gains on your stocks, unless you do this for a living/full time.

I'm bringing all my savings to Switzerland sofort!

...or a load of other places without capital gains tax...

what do you mean?

I would check with an accountant first. I am lead to believe that there are quite a few "But, if you ...., then it becomes taxable"

Regards

That there are a load of countries without capital gains tax...I never paid it in the UK either...(legally of course).

You might want to bring ageing rich relatives over too when you discover Switzerland's lack of inheritance tax...

Detailed infos on this issue here: http://www.dsconsulting.ch/?q=en/node/75

The USA has no estate tax in 2010, creating an incentive for the wealthy to die, or not be resuscitated this year (next year the tax returns with a vengeance). But there is, concomitantly, no step-up in basis and thus a capital gains tax trap: http://www.njelderlawestateplanning....al-gains-trap/

Also, some US states have estate taxes or inheritance taxes. (The UK's IHT is a true estate tax save that legacies to a spouse are exempt; an IHT (as in Germany) varies with the degree of relationship of the heir.)

As discussed in other, older threads US citizens and their heirs and British domiciliaries' estates may not benefit much from the minimal CGT (for non-property gains) and IHT in Switzerland.

UK emigrants who sell property after emigrating and who return to Britain to live (or spend more than 90 days on average per year) within 5 years will have UK CGT recaptured. UK tax treaties acknowledge this.

But as I've written elsewhere, double taxation is inherent for Swiss residents also taxed in another country because wealth tax (for those who have to pay it) is not eligible for a tax credit in the other country.

Agree. I think my point was just that you do get taxed on the money you make from investments. It's just not at the capital gains "level".

The OP was asking if there was no tax on money made from investments, AFAIU, and in this instance there is no "direct" capital gains, but there is wealth tax.

Also, now that I think about it a bit more, I had money removed by the bank from sales of stocks/shares. What was that all about?

There are transaction charges akin to stamp duty on share sales in Switzerland, judging from the statements I receive.

Right. Transfer of securities involving a so-called "profesionnal securities dealer" (nothing to do with trading as a hobby or not, those are mainly banks, funds, professional traders, remote members, etc.) are subject to a "transfer stamp tax" of 0.15% for Swiss securities and 0.3% for foreign securities. The tax is either splited between the purchaser and seller or due by one of them only depending on who is the other part (if one of the parties is a professional securities dealer, he does not pay the tax for himself and the other - who is not a professional securities dealer - has to pay the tax in full; otherwise each one pays half of it).

If you purchase stocks from a non listed company directly from the hands of the shareholder without involving a bank or other professional institution (like shares held by a pension fund for instance), no tax is due.

Do you how does it work when I'm a Swiss resident but would be using a EU-based bank to buy shares of EU-based companies (same country were the trading bank is located) and paying with euros? Would the capital gains tax still be zero here, and would the EU country in question tax me on possible gains even though I reside in Switzerland?