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Switzerland
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Switzerland

  #21 (permalink)
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Fadi View Post
PS: if you are a Swiss national, that won't work for you ;-) you have to be a foreigner living in Switzerland without working and generating income in Switzerland...

That's what I thought , unfortunately a foreigner living in Switzerland has more rights and paying less than a Swiss citizen, sad bad true.

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  #22 (permalink)
Market Wizard
Switzerland
 
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michaelf View Post
That's what I thought , unfortunately a foreigner living in Switzerland has more rights and paying less than a Swiss citizen, sad bad true.

..this is not the final truth:
Swiss citizens are not paying on stock gains or futures gains... (losses in reverse
are not deductible also).
These wins (as long as for family as @Fadi described) are not undergoing direct tax.
The tax on rising assets is due.. but with a very small percentage not really a danger

GFIs1

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  #23 (permalink)
Market Wizard
Switzerland
 
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More on Swiss Tax


As long as you have a positive account on a Swiss bank and you got a interest gain
over the year - you are deducted directly 35% of that gain which is reserved for the tax.
As long you are showing this gain with your tax declaration - you are then only paying
the real tax (normally lower) and the rest of the overpayment is sent back onto your account...
That trick gives enough taxes to the country - and if you have "forgotten to declare" - you are not
overly punished.

GFIs1

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  #24 (permalink)
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GFIs1 View Post
..this is not the final truth:
Swiss citizens are not paying on stock gains or futures gains... (losses in reverse
are not deductible also).
These wins (as long as for family as @Fadi described) are not undergoing direct tax.
The tax on rising assets is due.. but with a very small percentage not really a danger

GFIs1

@GFIs1

I was speaking in general (government taxes) not over stock or futures gains.
Sorry about the confusion

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  #25 (permalink)
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Switzerland
 
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michaelf View Post

I was speaking in general (government taxes) not over stock or futures gains.
Sorry about the confusion

no confusion here - in Switzerland taxes are not high in general - a company or a rich
foreigner can have a total tax handled with the state. This is why so many richi people
declare their seat to have in Switzerland: many rich sportsmen (formula one et al)
or businessmen (like IKEA founder who was the richest Swiss guy before he left
to go back to Sweden again).

Even Swiss VAT is much lower than in all surrounding (EC) countries. The max. VAT
is 8% right now.

GFIs1

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  #26 (permalink)
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GFIs1 View Post
a company or a rich
foreigner can have a total tax handled with the state. This is why so many richi people
declare their seat to have in Switzerlan

That's what I meant.

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  #27 (permalink)
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GFIs1 View Post
no confusion here - in Switzerland taxes are not high in general - a company or a rich
foreigner can have a total tax handled with the state. This is why so many richi people
declare their seat to have in Switzerland: many rich sportsmen (formula one et al)
or businessmen (like IKEA founder who was the richest Swiss guy before he left
to go back to Sweden again).

Even Swiss VAT is much lower than in all surrounding (EC) countries. The max. VAT
is 8% right now.

GFIs1

I agree, taxes in Switzerland are not so high and at the end that make them worth paying.

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  #28 (permalink)
Trading Apprentice
Switzerland
 
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qwertz2021 View Post
I just have to ask a certficate to my broker (based in Switzerland too) at the end of the year for all product apart from stocks (specific tax stamps). In my case, I only transfer this certificate to the tax authorities (if demanded) and note my trading account as a normal banking account.

Interesting replies on this - I'm based in the Canton of Vaud, question seems to be whether any profit is classified as 'income' and therefore taxed under appropriate cantonal tax band for income tax or 'wealth' and subsequently added to tax on your total assets. From my understanding it would be far better tax wise for profit to be considered wealth than income.

One other question how advantageous is it to use a Swiss based broker as opposed to a US based broker - if at all?

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  #29 (permalink)
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Shark07 View Post
Interesting replies on this - I'm based in the Canton of Vaud, question seems to be whether any profit is classified as 'income' and therefore taxed under appropriate cantonal tax band for income tax or 'wealth' and subsequently added to tax on your total assets. From my understanding it would be far better tax wise for profit to be considered wealth than income.

One other question how advantageous is it to use a Swiss based broker as opposed to a US based broker - if at all?


As far as I can respond with my own experience, I would say that you find the best brokerage offers for products like Options in the US. If you trade futures, you will find cheaper commissions in the US in general.

But I have always asked myself if a US broker could cause problems in the future, regarding all those invasive laws like Patriot Act that you have to sign in when you open an account in the US. Last years, we all remember the recent hunting of the US tax authorities on swiss bank scecrecy because of american customers cheating the taxman!

I mean: could the informations about swiss clients be exchanged to swiss authorities in exchange for some names of US clients?

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  #30 (permalink)
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Switzerland
 
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qwertz2021 View Post
As far as I can respond with my own experience, I would say that you find the best brokerage offers for products like Options in the US. If you trade futures, you will find cheaper commissions in the US in general.

But I have always asked myself if a US broker could cause problems in the future, regarding all those invasive laws like Patriot Act that you have to sign in when you open an account in the US. Last years, we all remember the recent hunting of the US tax authorities on swiss bank scecrecy because of american customers cheating the taxman!

I mean: could the informations about swiss clients be exchanged to swiss authorities in exchange for some names of US clients?


Thanks qwertz2021 - I agree with you on the cheaper comms but I like you have similar concerns regarding a US based broker going forward. Are there any Swiss brokerage options you would recommend? - as I'd like to investigate the options.

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