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Old 15.09.2008, 18:51
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Tax on revenues from savings : same as income tax ?

Hello,

I have a savings account outside CH : should the revenue coming from that savings account be added to my income tax declaration in CH as 'other revenues' ?

Thanks for your help !
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Old 15.09.2008, 19:06
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Re: Tax on revenues from savings : same as income tax ?

In principle yes.
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Old 15.09.2008, 19:48
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Re: Tax on revenues from savings : same as income tax ?

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Hello,

I have a savings account outside CH : should the revenue coming from that savings account be added to my income tax declaration in CH as 'other revenues' ?

Thanks for your help !
Definitely yes! Swiss tax forms require you to declare all assets anywhere on the planet. There is a line on the form, where you must declare income from investments, i.e. bank-accounts, dividends, loans, bond-coupons, fixed deposits, fiduciary deposits, etc.
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Old 15.09.2008, 20:31
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Re: Tax on revenues from savings : same as income tax ?

And would you also have to declare not only the interest earned over the year, but also the entire sum for the purposes of 'wealth tax?'

kodokan
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Old 15.09.2008, 20:56
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Re: Tax on revenues from savings : same as income tax ?

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And would you also have to declare not only the interest earned over the year, but also the entire sum for the purposes of 'wealth tax?'

kodokan
Well if you declare the interest income and not the principal, I guess the tax officer will figure out that interest income isn't paid out to zero-balance accounts and will send you a kind reminder
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This user would like to thank Shorrick Mk2 for this useful post:
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Old 15.09.2008, 21:06
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Re: Tax on revenues from savings : same as income tax ?

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Well if you declare the interest income and not the principal, I guess the tax officer will figure out that interest income isn't paid out to zero-balance accounts and will send you a kind reminder
Thanks Shorrick - it was more from a 'wet-behind-the-ears' rather than a 'potential tax evasion' point of view! I'm not planning to cheat the system (although I admit more from a gnawing terror of being caught rather than a sense of social justice...). We'll be submitting our first tax return after the end of the year, but fortunately we get a helpful tax company to do it for for us this first year, which means afterwards I can just copy theirs and change the amounts accordingly.

kodokan
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