INCOME AND CAPITAL TAXATION
TAXATION ON PROFIT FROM REAL ESTATE
On selling your real estate you have to submit a tax declaration for the tax on profit from real estate
irrespective if a profit or loss is realised. This includes individual
real estates as well as, in some Cantons real, estate of public limited
and limited companies.
INHERITANCE AND GIFT TAXATION
is applicable in Switzerland or abroad due to the double taxations
agreements, depending on the domicile of the deceased. Real estate is
taxable in the country where it is located.
Taxes and lump-sum benefits
Withdrawals of the 3a-savings and pension fund credits are specifically taxable. No tax return has to be submitted, as the information from the bank, insurances or pension funds is automatically transmitted to the tax authorities.
SOURCE TAXATION I
In Switzerland, a source tax on your income is owed
- If your income is less than CHF 120’000 a year. If you have special expenses T you can reclaim the source tax. Your income in Switzerland or abroad as well as any additional income can necessitate an additional assessment on your tax declaration.
- If your income is more than CHF 120’000 a year. In this case you will be subsequently taxed normally, cf. tax return. The source tax is comparable to monthly advanced payments of taxes.
SOURCE TAXATION II
Artists, athletes, speakers or seminar leaders residing abroad are subject of a specific source tax. This tax is directly paid by the organiser.
If your income is high it can be financially worthwhile to submit a tax reimbursement claim. If you are resident in Switzerland your income and fees from abroad have to be included in your tax declaration, however, only influence the tax rate.
All taxpayers in Switzerland can reclaim the Swiss withholding tax on income from interest or securities.
For individuals resident in Switzerland the taxes on income from securities’ from EU-countries, EFTA-countries or the USA can partially be reclaim according to the interest tax agreements, which will only valid until the fiscal year 2016. As of 2017 these interest tax agreements will be replaced by the automatic information exchange (AIA).
We draft tax returns for limited companies, public limited companies, cooperatives and other legal entities. These are subject to the profit and capital tax. In addition, we can invoice the value added tax (VAT).
For further information regarding company taxation please consult www.meili-consulting.ch - our subsidiary specialised in company trust.