Swiss property while living abroad

Hi,

I bought an apartment while I lived in kanton Zurich. I recently moved abroad and kept the property. What is the tax process?

Do I need to declare my worldwide income/assets for the calculation of the property tax bracket? Or is it a simpler process?

Thanks  in advance.

V Yzer

It depends on a number of factors (whether or not the property is mortgaged, for example). Property taxes on the property are payable in the municipality where the property is located. You will also have to pay Swiss wealth tax on the value of the property. If you have a mortgage, then you can deduct the debt from your taxable wealth, but your entire wealth is accounted for when determining the deduction (not just the value of the Swiss property). Then there is Swiss income tax on the imputed rental value (or rent, if you rent out the property). If you live in a country which has a double-taxation agreement with Switzerland, you may be able to offset some of these Swiss taxes against taxes in your country. So to answer your question, yes, you will need to submit a full Swiss tax return becaus all major taxes are affected. I would recommend consulting a tax specialist in the region where the property is located to optimize taxes for the long term.

Thank you for clarifying !