Taxes

The withholding tax is deducted directly from the wages of foreign workers without a residence permit and varies depending on the canton. Employers are responsible for the correct payment of this tax to the competent tax office.

The value-added tax rates in Switzerland will increase from 01.01.2024, making everyday products and services slightly more expensive. Companies must adjust their accounting systems and pay attention to the timing of service provision.

Employers often offer taxable employee discounts on their products/services. Taxation is based on the laws and amounts to discounts over CHF 2,300.

Solar panels offer not only ecological advantages but also significant tax relief by being deductible as maintenance in many cantons. The investment can also lead to a reduction in tax progression, which is financially attractive especially for households with high income.

In Switzerland, persons subject to withholding tax are usually exempt from filing a tax return, unless they are subsequently subject to ordinary assessment, which becomes necessary when certain income thresholds are exceeded. This assessment allows for tax deductions and must be applied for by March 31.

Cryptocurrencies must be declared as assets in the tax return; gains are tax-free for private individuals, losses are not deductible. Special tax rules apply for business use, including the regulation for mining.

Cryptocurrencies must be declared as assets in the tax return, with false statements potentially leading to consequences. The valuation is carried out using official year-end exchange rates or common marketplaces.

Individuals subject to withholding tax must file a tax return if their income or assets exceed certain limits. Voluntary submission can lead to a reduction in the tax burden.

Sole proprietorships tax their profits personally, as they are not considered separate legal entities. Business expenses and losses can be deducted for tax purposes to reduce taxable income.