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Old 03.12.2014, 16:55
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Re: Tax declaration on overseas asset.

Quote:
Not sure I get your message. What do you mean 'they don't bother'? We are legally required to declare the flat we own in the UK to Swiss taxes, and do pay tax on it here- and yes, it is normal. We only pay local taxes for services in the UK.
Of course you need to declare, that wasnt my point. I meant that some countries (usa cough) will levy taxes on foreign income but allow you to deduct taxes paid to a foreign govt on that income. Its a paper nightmare.

My brief experience with the sytem here is that you are required to report the income but then also deduct it due to "double taxation agreement with Country X"
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