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Do I really need to pay Swiss wealth tax on savings which I have already taxed elsewhere and earned/saved before moving to Switzerland? This doesn't seem logical.
Hi there,
If you are a legal tax resident in Switzerland, you pay wealth tax based on your total assets held both in Switzerland and abroad. That includes money held in Swiss and foreign bank accounts, real estate in Switzerland or in another country, and many other types of assets. Taxes vary between cantons and municipalities.
It is worth noting that Switzerland has mutual tax agreements with a number of countries which help you avoid double taxation.
Best regards from Moneyguru
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