Wealth tax in Switzerland is a tax that you must pay based on your net assets, and it varies depending on the canton and municipality in which you live.
Unlike income tax, wealth tax is based on the total value of your assets, which includes cash, investments, real estate, cars, and other valuables, minus any debts or liabilities.
The main assets included in your wealth tax calculation are (a non-exhaustive list):
With regards to foreign property, whilst the value will be taken into account when deciding which wealth tax bracket is applicable to you, you should not be required to actually pay tax on your foreign property.
Wealth tax rates can range anywhere from 0.02% to 0.50%, and thus vary significantly between cantons and can change each year.
For the majority of people, the wealth tax will be insignificant. However, it can have a more significant impact upon those who are accumulating large amounts of savings (for example, for retirement).
The main exclusions from your net assets are your Swiss Pillar 2 (or Vested Benefits) and Pillar 3 pensions (bank or life assurance) whilst they remain in those wrappers.
Whether or not you must pay the wealth tax is dependent upon your net wealth. Some cantons offer allowances (for example, your first CHF 50'000 of assets are not counted), though others may not.
It is important to contact a Tax Adviser to ensure you pay what is required of you.
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Please note that all content within this response has been prepared for information purposes only. This response does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.