Good to know:

Third pillar savings deposit as of 2022 

Employees can receive a total of up to CHF 6’883 p.a. in tax deductions by paying into the 3a pillar. Self-employed persons can pay 20% from their net income (max. CHF 34’416).

Turkey-Switzerland Taxes

Turkey - Switzerland taxes
Automatic exchange of information Turkey - Switzerland years 2019, 2020, + 2021

The data transfer includes mainly accounts, securities, investments, life insurances and participations in companies.
Self-disclosure is recommended.

Canton of Zurich: Halving of the tax rate on lump-sum benefits of the pension fund

From 1.1.2022, the state and municipal tax on lump-sum benefits will be halved, i.e. they will only pay half the state and municipal tax on withdrawals of 3a savings deposits and on withdrawals of pension fund assets compared to 31.12.2021.

Fiscal year 2021: New Regulations of the tax at source

I. NOV (Subsequent ordinary assessment)

As before always from a gross salary from 120000 p.a. (obligatory NOV)

II. NOV (Subsequent ordinary assessment extended, up until now: withholding tax reclaim = voluntary NOV)

  1. On international weekly residents (Restriction: 90% of the world wide income was made in Switzerland)
  2. All taxable persons with a gross salary below 120’000 p.a. that have reclaimed tax at source. For the first voluntary subsequent ordinary assessment, the deadline is the end of March.
    Once the withholding tax reclaim has been recorded in the tax register, the usual deadlines and rules regarding extensions of deadlines always apply to the subsequent ordinary and regular assessment.

An ordinary assessment can now be worthwhile not only for persons in groups 1) and 2), but also for persons with a gross income of less than CHF 50,000 p.a..

III. NOV (up until now: additional taxation = obligatory NOV)

Applies to persons definitely taxed at source who meet the following criteria:

  • Additional income of CHF 3,000 p.a. through: Interest, real estate income, alimony, dividends, interest, etc. in addition to income from employment.
  • Assets on December 31st of CHF 80,000 as an individual or CHF 160,000 as a married couple or registered partnership. Assets have as individual or married couple/registered partnership

The persons concerned will all be taxed retrospectively. This means that they must report themselves in order to prevent tax evasion proceedings from being opened against them when the case becomes known, with heavy fines to be expected.

In fact, any taxpayer who has been taxed at source until now can file a tax return.

Prizes, honorary gifts, awards, scholarships and grants from foundations, other private and public institutions or the public sector.

A gift tax does not be used on these items anymore.

They constitute all taxable income. Exceptional cases apply in the case of:

  • Indigence of the recipient
  • Intention of the payer to support (unclear what this means)
  • Gratuitous benefits such as leaving a room, etc.

Transfer of pension fund and third pillar assets from one foundation to another as of 1.1.2022

Both balances may be transferred to a new foundation at any time, namely up to the regular retirement age, and even beyond that up to a maximum of the age of 70 if the person is still employed. 
Until now, a transfer after the age of 60 was automatically considered a withdrawal in the canton of Zurich.