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07.02.2017, 13:50
| Junior Member | | Join Date: Jun 2011 Location: Zurich
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| | Re: Tax declaration on overseas asset. | Quote: | |  | | | However in ZH you can deduct 0.35 to manage your assets upto 5 million, so the rate is actually negative as I have mentioned several times before. You pay more tax by NOT declaring. | | | | | Linking to an old post here Fatman as am preparing for the 2016 tax return. I have lived in Switzerland for 5 years now, moved on to a C permit last October and therefore due to the permit, not to income level, have to submit a tax return. I have a small house abroad, the question is, do I declare it or not? I am concerned about having additional bills!
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07.02.2017, 13:56
| Forum Veteran | | Join Date: Feb 2012 Location: CH
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| | Re: Tax declaration on overseas asset.
You're supposed to declare it, yes, and it'll almost certainly increase your tax liability a bit, yes.
On the other hand not declaring is not a crime and has rather mild consequences if caught
The post you quoted is irrelevant for property, that deduction is for stocks, and the figure of 5m is not up to date
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12.06.2017, 12:54
| Newbie | | Join Date: May 2015 Location: Zurich
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| | Re: Tax declaration on overseas asset.
Hi,
Please let me know if I am owner of the flat in India, I should declare it in Swiss Tax? also for Indian bank accounts?
Regards,
Suren
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12.06.2017, 13:03
|  | Moderately Dutch | | Join Date: May 2011 Location: Zurich
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| | Re: Tax declaration on overseas asset. | Quote: | |  | | | Hi,
Please let me know if I am owner of the flat in India, I should declare it in Swiss Tax? also for Indian bank accounts?
Regards,
Suren | | | | | Yes, in both cases
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12.06.2017, 13:35
| Newbie | | Join Date: May 2015 Location: Zurich
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| | Re: Tax declaration on overseas asset.
Do you know how much % i have to pay for the asset declaration?
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12.06.2017, 13:51
| Forum Veteran | | Join Date: Feb 2012 Location: CH
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| | Re: Tax declaration on overseas asset.
Not more than 2 Fr - the postage for sending it back from where it came
How much more tax you'll have to pay if you declare it cannot be answered without knowing a lot more numbers about you. It's not as a easy as a fixed percentage.
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12.06.2017, 16:46
| Newbie | | Join Date: May 2015 Location: Zurich
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| | Re: Tax declaration on overseas asset.
Thanks ivank!
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13.06.2017, 10:14
|  | Forum Legend | | Join Date: Mar 2010 Location: Switzerland
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| | Re: Tax declaration on overseas asset.
OECD automatic exchange of information from 2018 will make it easier for swiss authorities to find out if you have an undeclared property abroad.
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13.06.2017, 10:30
|  | Forum Legend | | Join Date: Oct 2008 Location: Baselland
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| | Re: Tax declaration on overseas asset. | Quote: | |  | | | Do you know how much % i have to pay for the asset declaration? | | | | | Asset tax is usually quite small.
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13.06.2017, 10:52
|  | Only in moderation | | Join Date: Jul 2009 Location: Basel-Land
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| | Re: Tax declaration on overseas asset. | Quote: | |  | | | Asset tax is usually quite small. | | | | | ... if there's any at all. Through the magic of accounting, it's not particularly difficult to declare negative assets, especially where mortgaged real estate is concerned, and thereby pay no wealth tax at all.
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13.06.2017, 11:33
|  | Forum Legend | | Join Date: Nov 2007 Location: Zurich area
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| | Re: Tax declaration on overseas asset. | Quote: | |  | | | Do you know how much % i have to pay for the asset declaration? | | | | | Wealth tax starts at a total net asset of around 100k and is then around 0.1%
At 5M net asset it is, depending on canton, between 0.14% (Nidwalden) to just shy of 0.9% (Geneva)
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