"Will my foreign pensions be taxed in Switzerland?"

The best approach to find out whether your foreign pensions are taxed in Switzerland is to review the Double Taxation Agreement (DTA) between Switzerland and the country from where your pension originates.

• A DTA is a treaty between two countries designed to prevent individuals and businesses from being taxed on the same income twice.

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In most cases, pensions are taxed only in the country where you are currently a tax resident, though you may find that the originating country withholds tax and you can then have to complete a form to apply for a tax refund.

• As a tax resident of Switzerland, your foreign pensions are more likely than not to be taxable in Switzerland once you withdraw them as a lump sum or regular income, and would be considered part of your worldwide income.

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If you find yourself in the position where both countries are attempting to tax your pension even if the relevant DTA specifies that taxation should only occur only in the country where you are a tax resident, the aforementioned tax refund form is your friend!

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Whether your foreign pensions are actually taxed in Switzerland depends on several factors, including the country from which you are withdrawing the pension and even in some cases whether you take it as a regular income or a lump sum amount.

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However, there are also instances where the pension may be taxed in both countries if allowed for under the relevant DTA, so make sure you read carefully, or forward them onto the Finance HQ team!

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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.‍