Swiss Annual Returns Explained

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Switzerland’s tax system is among the world’s most attractive for both corporations and individuals. Offering one of the lowest tax rates in Europe, Switzerland is popular with leading international companies and their internationally qualified employees.

The Swiss tax system is decentralized, most taxes are administered by the cantonal tax administrations which are responsible for collecting federal, cantonal and any local tax. There are 26 cantons in Switzerland and the cantonal tax administrations are audited by the Federal administration.

The Rule and the Purpose
Each year individuals and companies based in Switzerland, must complete and file italy mobile database a tax return with the relevant authority.

The Swiss tax system is based on taxpayers’ declarations with subsequent assessments being issued by the tax authorities based on the tax returns filed.

The tax return is used to assess the level of tax on income and wealth/capital of the taxpayer.

Who is Required to File a Tax Return in Switzerland ?
Swiss Companies
Swiss companies must file annual tax returns and financial statements (balance sheets, profit and loss accounts), with the tax office of the canton that the company is registered in.