Note: If you would like a detailed overview of the interest rates on tax advances and penalty rates for delayed payments, just request a copy here (as a PDF).
Everyday Money
Interest Rates for Early and Late Swiss Tax Payments Explained
In Switzerland, many cantons pay interest on taxes paid in advance. All cantons and the Swiss federal government charge penalty interest when you pay taxes late. Get a clear overview of interest rates for cantonal and federal income taxes in this moneyland.ch guide.
In Switzerland, you have the option of paying taxes early. Some cantons even require that you pay provisional tax bills well ahead of submitting your tax returns. It can make financial sense to transfer your taxes to the tax office well in advance of the tax deadline.
Paying taxes early
The reason why paying your taxes early can be beneficial is that some cantonal tax offices pay higher interest on tax advances than banks pay on the balances of Swiss savings accounts. The most favorable tax advance interest rates are similar to the rates banks use for youth savings accounts. You can easily find the interest rate applicable in your canton in the tables below, and in the free PDF available at the foot of this article.
Interest rates vary between cantons
Depending on the interest rate applicable in your canton, paying your taxes in advance can be a smart financial move. Doing this makes sense if you do not otherwise need the money and it would sit in a bank account. The interest paid by tax offices is not subject to the withholding tax that applies to interest earned on bank account balances.
Interest paid for advance payments of Swiss cantonal taxes and Direct Federal Tax:
| Canton | 2022 | 2023 | 2024 | Note |
|---|---|---|---|---|
| Aargau | 0.10% | 0.30% | 0.75% | Equalizing interest for tax bills paid before a certain deadline. |
| Appenzell Ausserrhoden | 0.20% | 0.20% | 1.00% | Equalizing interest for tax bills paid before a certain deadline. |
| Appenzell Innerrhoden | 1.00% | 1.00% | 1.00% | |
| Basel-Landschaft | 0.20% | 0.50% | 0.80% | |
| Basel-Stadt | 0.10% | 0.50% | 1.00% | |
| Bern | 0.00% | 0.25% | 0.75% | 1.00% interest per annum for amounts for which you are billed that exceed your final tax liability. |
| Fribourg | 0.00% | 0.00% | 0.25% | 3.75% interest per annum for amounts for which you are billed that exceed your final tax liability. |
| Geneva | 0.01% | 0.50% | 0.50% | |
| Glarus | 1.00% | 1.00% | 1.00% | Equalizing interest for tax bills paid before a certain deadline. |
| Grisons | 0.00% | 0.00% | 1.25% | |
| Jura | 0.00% | 0.25% | 0.75% | |
| Lucerne | 0.00% | 0.00% | 1.25% | |
| Neuchâtel | 0.00% | 0.00% | 0.00% | |
| Nidwalden | 0.00% | 0.10% | 1.00% | |
| Obwalden | 0.10% | 0.10% | 1.10% | Equalizing interest for tax bills paid before a certain deadline. |
| Schaffhausen | 0.10% | 0.10% | 1.00% | |
| Schwyz | 0.50% | 0.50% | 0.75% | 1.00% interest per annum for amounts for which you are billed that exceed your final tax liability. |
| Solothurn | 0.00% | 0.00% | 0.00% | 1.00% interest per annum for amounts for which you are billed that exceed your final tax liability. |
| St. Gallen | 0.25% | 0.25% | 1.00% | Equalizing interest for tax bills paid before a certain deadline. |
| Ticino | 0.10% | 0.10% | 0.10% | 0.25% interest per annum for amounts for which you are billed that exceed your final tax liability. |
| Thurgau | 0.20% | 0.20% | 1.00% | Equalizing interest for tax bills paid before a certain deadline. |
| Uri | 0.25% | 0.25% | 1.00% | |
| Vaud | 0.00% | 0.00% | 0.325% | |
| Wallis | 0.00% | 0.00% | 0.00% | |
| Zug | 0.00% | 0.00% | 2.00% | |
| Zurich | 0.25% | 0.25% | 1.00% | |
| Direct Federal Tax | 0.00% | 0.00% | 1.25% |
Information compiled by moneyland.ch as per data published by the cantons for informational purposes only. moneyland.ch does not guarantee the correctness of the information provided.
High penalty interest rates for late tax payments
Not paying your taxes in full by the deadline is not recommended. Tax offices charge penalty interest on tax debts carried past the payment deadline. These can be nearly as high as the interest rates of Swiss personal loans.
Penalty interest charged for late tax payments of cantonal and federal taxes:
| Canton | 2022 | 2023 | 2024 |
|---|---|---|---|
| Aargau | 5.10% | 5.00% | 5.00% |
| Appenzell Ausserrhoden | 4.00% | 4.00% | 5.00% |
| Appenzell Innerrhoden | 4.50% | 4.50% | 4.50% |
| Basel-Landschaft | 5.00% | 3.00% | 4.75% |
| Basel-Stadt | 3.00% | 3.50% | 3.50% |
| Bern | 3.00% | 3.00% | 4.00% |
| Fribourg | 3.00% | 3.00% | 3.00% |
| Geneva | 3.00% | 3.00% | 3.00% |
| Glarus | 4.50% | 4.50% | 4.50% |
| Grisons | 4.00% | 4.00% | 4.75% |
| Jura | 5.00% | 5.00% | 5.00% |
| Lucerne | 3.50% | 3.50% | 4.75% |
| Neuchâtel | 3.50% | 3.50% | 3.50% |
| Nidwalden | 4.00% | 4.00% | 4.75% |
| Obwalden | 5.00% | 5.00% | 5.00% |
| Schaffhausen | 4.00% | 4.00% | 4.00% |
| Schwyz | 3.50% | 3.50% | 3.50% |
| Solothurn | 3.00% | 3.00% | 3.50% |
| St. Gallen | 4.00% | 4.00% | 4.00% |
| Ticino | 2.50% | 2.50% | 3.50% |
| Thurgau | 3.00% | 3.00% | 4.00% |
| Uri | 4.00% | 4.00% | 4.50% |
| Vaud | 4.00% | 4.00% | 4.75% |
| Wallis | 3.50% | 3.50% | 3.50% |
| Zug | 4.00% | 4.00% | 4.00% |
| Zurich | 4.50% | 4.50% | 4.50% |
| Direct Federal Tax | 4.00% | 4.00% | 4.75% |
Information compiled by moneyland.ch as per data published by the cantons for informational purposes only. moneyland.ch does not guarantee the correctness of the information provided.
More on this topic:
Swiss tax deductions you should know about
How to lower your tax bill with the pillar 3a
Tax deductions for expatriates working in Switzerland explained
Daniel Dreier is editor and personal finance expert at moneyland.ch.
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