Income Tax Rates Switzerland
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Personal income tax rate in switzerland averaged 40 09 percent from 2004 until 2020 reaching an all time high of 40 40 percent in 2005 and a record low of 40 percent in 2008.
Income tax rates switzerland. The tax rate is 35 for moveable capital revenue and lottery winnings 15 for life annuities and pensions and 8 for other insurance benefits. Ii married taxpayers and single taxpayers with minor children for taxable income above chf 895 900 the overall tax rate will be 11 5. As a matter of principle proceeds of sales and services conducted in switzerland are subject to the general swiss vat rate of 7 7 since 1 january 2018. Switzerland has a bracketed income tax system with ten income tax brackets ranging from a low of 0 00 for those earning under 13 600 to a high of 13 20 for those earning more then 166 200 a year.
For taxable income above chf 755 200 the overall tax rate will be 11 5. An example of the situation for tax residents in switzerland however would be the canton of zurich where cantonal income tax for a married couple is a basic rate average of 7 2 on income of chf200 000 multiplied by the local coefficient of 2 2 approx bringing the total including federal tax on that amount at around 6 67 to 23 14. Swiss sourced investment income such as bank and bond interest dividends and investment fund distributions is generally subject to a 35 percent withholding tax which is creditable in full against swiss federal cantonal and municipal tax on income and wealth due from a swiss resident. The personal income tax rate in switzerland stands at 40 percent.
However goods for basic needs are subject to vat at the rate of 2 5 and services in connection with the provision of lodging are subject to vat at the rate of 3 7 since 1 january 2018. If you are a foreigner living and working in switzerland you will typically be liable to pay swiss taxes. Individuals with taxable income below chf 14 500 and couples with taxable income below chf 28 300 are exempt from federal tax. Zurich cantonal tax basic tax.
The federal income tax rates range from 0 77 for single taxpayers and 1 for married taxpayers to a maximum rate of 11 5. A complete guide to taxes in switzerland and the swiss tax system including income tax rates income tax calculations and how to claim swiss tax refunds.
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