Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 02.01.2021, 20:05
Newbie
 
Join Date: Nov 2020
Location: Zurich
Posts: 5
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Barbora has no particular reputation at present
Wealth tax - overseas pensions

Hi,
Does anyone please know how to verify whether an overseas pension (in the UK) can be excluded from the calculation for the wealth tax purposes in Switzerland?

As per the below post, an overseas pension fund needs to be comparable to Swiss pension funds. Otherwise, its value has to be included in the value of the assets for the wealth tax calculation. However, I have not been able to find any official information on whether such assessment of overseas pension funds is actually being done and how.

https://www.moneyland.ch/en/forum/ta...itzerland-3236

Thank you,
Barbora
Reply With Quote
  #2  
Old 02.01.2021, 20:25
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 8,531
Groaned at 365 Times in 252 Posts
Thanked 12,769 Times in 4,353 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: Wealth tax - overseas pensions

From the link you supplied:

“Pension savings are not counted as taxable wealth until they are withdrawn”
Reply With Quote
  #3  
Old 02.01.2021, 20:35
Newbie
 
Join Date: Nov 2020
Location: Zurich
Posts: 5
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Barbora has no particular reputation at present
Re: Wealth tax - overseas pensions

However, that statement is preceded by 'considered similar to Swiss pension funds '. Therefore, it goes back to the assessment of whether a non-Swiss pension fund is similar to Swiss pension funds.
Reply With Quote
  #4  
Old 02.01.2021, 20:39
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 8,531
Groaned at 365 Times in 252 Posts
Thanked 12,769 Times in 4,353 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: Wealth tax - overseas pensions

Quote:
View Post
However, that statement is preceded by 'considered similar to Swiss pension funds '. Therefore, it goes back to the assessment of whether a non-Swiss pension fund is similar to Swiss pension funds.
The preceding sentence starts:

“Withdrawals from pensions funds...” That’s not what you’re asking...
Reply With Quote
  #5  
Old 02.01.2021, 21:10
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Wealth tax - overseas pensions

Quote:
View Post
Hi,
Does anyone please know how to verify whether an overseas pension (in the UK) can be excluded from the calculation for the wealth tax purposes in Switzerland?

As per the below post, an overseas pension fund needs to be comparable to Swiss pension funds. Otherwise, its value has to be included in the value of the assets for the wealth tax calculation. However, I have not been able to find any official information on whether such assessment of overseas pension funds is actually being done and how.

https://www.moneyland.ch/en/forum/ta...itzerland-3236

Thank you,
Barbora
Since you have not got direct access & the funds are subject to taxation I don't see how it falls part of your wealth. Depending on your age you may not even be capable of accessing even if you wanted to.
Reply With Quote
  #6  
Old 02.01.2021, 21:15
Newbie
 
Join Date: Nov 2020
Location: Zurich
Posts: 5
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Barbora has no particular reputation at present
Re: Wealth tax - overseas pensions

Correct, that's not what I am asking but it is from the paragraph from where you picked the statement.

However, both the tax treatment of pension withdrawals as well as the asset calculation for the wealth tax purposes may require an assessment whether a non-Swiss pension fund is considered to be a pension fund from the Swiss tax regulation point of view. And the post I have shared does not provide the answer.
Reply With Quote
This user groans at Barbora for this post:
  #7  
Old 02.01.2021, 21:57
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 12,778
Groaned at 99 Times in 88 Posts
Thanked 19,576 Times in 8,681 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: Wealth tax - overseas pensions

Quote:
View Post
may require an assessment whether a non-Swiss pension fund is considered to be a pension fund from the Swiss tax regulation point of view. And the post I have shared does not provide the answer.
The only one which can do this is the tax office or a judge if you disagree with the tax offices point of view.

The rules for life insurances might apply:
http://www.taxinfo.sv.fin.be.ch/taxi...eId=1515192790
Reply With Quote
This user would like to thank aSwissInTheUS for this useful post:
Reply

Tags
pension, wealth tax




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
Pensions Istebraq Insurance 8 12.07.2017 10:10
Tax and pensions help Ravenk Finance/banking/taxation 1 14.05.2013 21:56
Swiss Pensions - General Summary / 3rd Pillar Pensions Longbyt Finance/banking/taxation 0 20.02.2011 19:38
What pensions become GVAbound Finance/banking/taxation 6 07.12.2008 00:23
Pensions - the law Ali-lou Finance/banking/taxation 2 18.08.2008 14:17


All times are GMT +2. The time now is 04:22.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0