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Old 13.07.2020, 13:49
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selling property abroad - any taxation impact?

Not sure if it matches here or the financial/taxation block better (mods pls relocate as you see fit).

We are about to sell properties in the EU that appreciated quite a lot in the last 10-15 years (100%+). We fully own both properties without any mortgages.

How would I account for the sales price in my Swiss tax declaration next year? I would assume that this is capital gain tax for the sales price minus original purchase price? Anything else to declare?

Would you dear EFers have a pointer to me to read into the topic? Can also be in German.
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Old 13.07.2020, 14:03
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Re: selling property abroad - any taxation impact?

My understanding is that property matters are issues for where it is located.

So in your case, you shall be liable for capital gains tax in the country it is located in. From CH tax perspective, I don't think you are liable for capital gains here in CH. The Swiss taxman will see that your overseas property disappeared and cash appeared in your bank account (I am assuming the property was listed in your tax return appropriately). Attach a sale deed with your tax return.
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Old 13.07.2020, 14:07
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Re: selling property abroad - any taxation impact?

Sold my flat abroad, bought a house (also abroad), only difference in Switzerland was that the amount calculated for CGT was now higher.


As Dutch said, just make a comment in your tax declaration that you sold the property.


Edit: wealth tax, not CGT

Last edited by roegner; 13.07.2020 at 14:55.
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Old 13.07.2020, 14:23
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Re: selling property abroad - any taxation impact?

We sold properties in both the UK and Belgium whilst resident in Switzerland and there was no tax to lay here, any tax CGT due is due in the country where the property is located. There was none in either case for us.
You may have to explain to the taxman where the funds came from but that’s not an issue since it will also be pretty obvious once you stop declaring the properties as part of your fortune.
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Old 13.07.2020, 14:46
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Re: selling property abroad - any taxation impact?

Got it, thanks all!

The properties have been declared in the Swiss declaration all these years, so it will be pretty obvious where the money comes from.
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Old 13.07.2020, 14:54
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Re: selling property abroad - any taxation impact?

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difference in Switzerland was that the amount calculated for CGT was now higher..
???

Do you, by chance, mean wealth tax?
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Old 13.07.2020, 14:55
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Re: selling property abroad - any taxation impact?

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???

Do you, by chance, mean wealth tax?

Oops sorry, yes, that
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