Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 21.03.2020, 19:33
Newbie
 
Join Date: Mar 2020
Location: Zurich
Posts: 1
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
giuseppescola has no particular reputation at present
Taxes Zurich Canton

Hi,
I moved to Zurich in November 2019 with a B permit.
My income is slightly above 120k.
I also own a house abroad in Italy (value should be around 150k€). The house is not rented.

Does anyone have experience with this situation?
Should I declare for this year or no?

Thanks to anyone that will help me figure this out.

Giuseppe
Reply With Quote
  #2  
Old 31.03.2020, 18:14
ztm's Avatar
ztm ztm is offline
Newbie 1st class
 
Join Date: Mar 2020
Location: Zurich
Posts: 16
Groaned at 1 Time in 1 Post
Thanked 10 Times in 4 Posts
ztm has no particular reputation at present
Re: Taxes Zurich Canton

Copying from here:


If you are not Swiss, you'll be taxed at source, unless [5, 6]:
  • You have a C permit
  • Your income exceeds CHF 120k/year (applicable to most cantons, but Geneva: CHF 500k/year)
  • Your assets exceed CHF 200k (applicable to canton Zurich)
  • Your non-taxed at source income (e.g. dividends) exceeds CHF 2.5k/year (applicable to canton Zurich)
If your income is above the threshold, the tax authorities will send you a letter informing that you have to declare taxes. This is referred to as Nachträgliche ordentliche Veranlagung. No proactivity is required from your side. If this is the case, by the way, you’ll be taxed at source plus have to file taxes simultaneously. At least until you get a C permit. The difference between the regular tax declaration (what you have to pay) and the withholding tax paid during the period (what you paid) will be debited/credited to you.

Proactivity is required if you meet any of the other conditions. At least to my understanding. The tax authorities can find out systematically about your Swiss income. But I don’t think they can find out about your assets. Especially considering that you might have assets abroad. The same applies for non-taxed at source income. My advice would be to contact the tax office.



In your case the closest trigger would be the CHF 200k in assets (I guess). Are you over CHF 200k if you add the rest of your assets on top of your real estate in Italy? If so, you might want to contact the Zurich tax office.
Reply With Quote
  #3  
Old 31.03.2020, 19:27
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 28,113
Groaned at 1,870 Times in 1,426 Posts
Thanked 33,054 Times in 15,790 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Taxes Zurich Canton

You do NOT pay any Swiss taxes on the house in Italy (we have one in Trieste), just Italian taxes, BUT you need to declare it for calculating the tax rates for assets here (less than 1/1000).

Tom
Reply With Quote
The following 3 users would like to thank st2lemans for this useful post:
  #4  
Old 31.03.2020, 20:08
omtatsat's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: Back O' Bourke
Posts: 10,031
Groaned at 1,917 Times in 1,044 Posts
Thanked 4,637 Times in 2,946 Posts
omtatsat is considered unworthyomtatsat is considered unworthyomtatsat is considered unworthyomtatsat is considered unworthy
Re: Taxes Zurich Canton

Quote:
View Post
Hi,
I moved to Zurich in November 2019 with a B permit.
My income is slightly above 120k.
I also own a house abroad in Italy (value should be around 150k€). The house is not rented.

Does anyone have experience with this situation?
Should I declare for this year or no?

Thanks to anyone that will help me figure this out.

Giuseppe
If you dont declare the value of the house and they find out about it then you will be charged for tax evasion. Banks and probably the Tax offices in most countries share all such details with the Tax authorities here.
Reply With Quote
  #5  
Old 31.03.2020, 20:43
Forum Legend
 
Join Date: Aug 2015
Location: Zurich
Posts: 4,616
Groaned at 215 Times in 130 Posts
Thanked 5,187 Times in 2,368 Posts
ZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond reputeZuriRollt has a reputation beyond repute
Re: Taxes Zurich Canton

Quote:
View Post
Hi,
I moved to Zurich in November 2019 with a B permit.
My income is slightly above 120k.
I also own a house abroad in Italy (value should be around 150k€). The house is not rented.

Does anyone have experience with this situation?
Should I declare for this year or no?

Thanks to anyone that will help me figure this out.

Giuseppe
I can’t believe that anyone would be so dumb as to advertise their potential tax evasion here. It probably took me more time to decide whether i comes before e in believe than wasting time on making this post.
Reply With Quote
  #6  
Old 31.03.2020, 20:47
omtatsat's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: Back O' Bourke
Posts: 10,031
Groaned at 1,917 Times in 1,044 Posts
Thanked 4,637 Times in 2,946 Posts
omtatsat is considered unworthyomtatsat is considered unworthyomtatsat is considered unworthyomtatsat is considered unworthy
Re: Taxes Zurich Canton

Quote:
View Post
I can’t believe that anyone would be so dumb as to advertise their potential tax evasion here. It probably took me more time to decide whether i comes before e in believe than wasting time on making this post.
i before e except after c. Which school did you go to?
Reply With Quote
The following 2 users would like to thank omtatsat for this useful post:
  #7  
Old Yesterday, 10:05
Forum Veteran
 
Join Date: Jan 2010
Location: Zurich
Posts: 670
Groaned at 102 Times in 49 Posts
Thanked 689 Times in 335 Posts
Kedi has a reputation beyond reputeKedi has a reputation beyond reputeKedi has a reputation beyond reputeKedi has a reputation beyond repute
Re: Taxes Zurich Canton

Quote:
View Post
I can’t believe that anyone would be so dumb as to advertise their potential tax evasion here. It probably took me more time to decide whether i comes before e in believe than wasting time on making this post.
Where does he say that he is going to evade taxes? He asks if he needs to file a declaration this year.
Reply With Quote
The following 2 users would like to thank Kedi for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Help declaring taxes for cleaning lady canton Zurich ValeC Housing in general 10 20.10.2016 08:27
Taxes when changing from canton ZH to canton SG arduino Finance/banking/taxation 3 23.12.2013 00:47
Learning Taxes in Canton Vaud 2funky Finance/banking/taxation 1 06.07.2012 03:18
Which canton do I have to register/pay taxes in? ElectricGnome Finance/banking/taxation 15 08.03.2012 13:26
taxes in a different Canton Nessuno Finance/banking/taxation 1 04.06.2010 16:00


All times are GMT +2. The time now is 05:52.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0