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  #21  
Old 07.02.2017, 13:50
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Re: Tax declaration on overseas asset.

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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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  #22  
Old 07.02.2017, 13:56
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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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  #23  
Old 12.06.2017, 12:54
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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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  #24  
Old 12.06.2017, 13:03
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Re: Tax declaration on overseas asset.

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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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  #25  
Old 12.06.2017, 13:35
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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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  #26  
Old 12.06.2017, 13:51
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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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  #27  
Old 12.06.2017, 16:46
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Re: Tax declaration on overseas asset.

Thanks ivank!
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  #28  
Old 13.06.2017, 10:14
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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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  #29  
Old 13.06.2017, 10:30
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Re: Tax declaration on overseas asset.

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Do you know how much % i have to pay for the asset declaration?
Asset tax is usually quite small.
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  #30  
Old 13.06.2017, 10:52
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Re: Tax declaration on overseas asset.

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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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Old 13.06.2017, 11:33
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Re: Tax declaration on overseas asset.

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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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