hi all,
I would really appreciate it if someone could give a rough idea of income tax in Geneva..?
There's loads of information out there, but the majority is conflicting / ambiguous.
thanks,
Joe
Forums in Geneva > Geneva > income tax
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income tax
Oct 24, 2009 @ 15:33
The text you are quoting:
hi all,
I would really appreciate it if someone could give a rough idea of income tax in Geneva..?
There's loads of information out there, but the majority is conflicting / ambiguous.
thanks,
Joe
Joe WOct 24, 2009 @ 15:33
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Re: income tax
Post 1
Oct 24, 2009 @ 15:36
It depends on your level of income and whether you're single or married, and whether you have kids.
For a single person earning say 10K per month, I think a little under a third goes to social charges (govt pension, unemployment insurance, ..) and tax.
For a single person earning say 10K per month, I think a little under a third goes to social charges (govt pension, unemployment insurance, ..) and tax.
The text you are quoting:
It depends on your level of income and whether you're single or married, and whether you have kids.
For a single person earning say 10K per month, I think a little under a third goes to social charges (govt pension, unemployment insurance, ..) and tax.
Jonas P, Oct 24, 2009 @ 15:36
For a single person earning say 10K per month, I think a little under a third goes to social charges (govt pension, unemployment insurance, ..) and tax.
Jonas P, Oct 24, 2009 @ 15:36
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Re: income tax
Post 2
Oct 24, 2009 @ 15:41
that's spot on, many thanks!
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Re: income tax
Post 3
Oct 25, 2009 @ 09:11
quote:
as an expat you are source taxed and
you probably will not be in the situation to deduct certain costs others can who are
obliged to file tax returns."
My understanding from the tax people is that even if you pay at source, you have the right to make a tax declaration and request to fill in the usual tax forms. but you have to request them. i did this after 5 years of paying at source, and got a whopping 5'000 frs. of overpaid tax returned to me.
as an expat you are source taxed and
you probably will not be in the situation to deduct certain costs others can who are
obliged to file tax returns."
My understanding from the tax people is that even if you pay at source, you have the right to make a tax declaration and request to fill in the usual tax forms. but you have to request them. i did this after 5 years of paying at source, and got a whopping 5'000 frs. of overpaid tax returned to me.
The text you are quoting:
quote:
as an expat you are source taxed and
you probably will not be in the situation to deduct certain costs others can who are
obliged to file tax returns."
My understanding from the tax people is that even if you pay at source, you have the right to make a tax declaration and request to fill in the usual tax forms. but you have to request them. i did this after 5 years of paying at source, and got a whopping 5'000 frs. of overpaid tax returned to me.
epicure, Oct 25, 2009 @ 09:11
as an expat you are source taxed and
you probably will not be in the situation to deduct certain costs others can who are
obliged to file tax returns."
My understanding from the tax people is that even if you pay at source, you have the right to make a tax declaration and request to fill in the usual tax forms. but you have to request them. i did this after 5 years of paying at source, and got a whopping 5'000 frs. of overpaid tax returned to me.
epicure, Oct 25, 2009 @ 09:11
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Re: income tax
Post 4
Oct 25, 2009 @ 09:16
Just in case, you are source taxed only if your worldwide wealth (incl. everything from foreign bank accounts, houses, cars, jewels, etc) is below 50,000 swiss francs (or 100,000 for a couple + 25,000 per child). Else you must fill a tax statement, which is not bad, since you can then deduct a lot more things.
A lot of expats forget this rule...and can then be subject to a tax restatement...
A lot of expats forget this rule...and can then be subject to a tax restatement...
The text you are quoting:
Just in case, you are source taxed only if your worldwide wealth (incl. everything from foreign bank accounts, houses, cars, jewels, etc) is below 50,000 swiss francs (or 100,000 for a couple + 25,000 per child). Else you must fill a tax statement, which is not bad, since you can then deduct a lot more things.
A lot of expats forget this rule...and can then be subject to a tax restatement...
didier r, Oct 25, 2009 @ 09:16
A lot of expats forget this rule...and can then be subject to a tax restatement...
didier r, Oct 25, 2009 @ 09:16
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Re: income tax
Post 5
Oct 27, 2010 @ 12:45
I spoke to the Geneva Tax office today and got told some very bad news:
We are a UK married couple, no children, permitt B, both working in Geneva, taxed at source.
How the system works is we should both be paying Tax Rate A (single person) direct from our employers. Our salaries are then added together at the end of the year and taxed at rate B for the combined income.
So say we earnt 100'000 CHF as a couple. For 2009 there was a couple's allowance of CHF 3850, meaning we only earnt CHF 96'150 for tax purposes. This amount would then be taxed at rate B for this pay band. For 2010 the allowance is only 500 CHF, so our earnings would have been CHF 99'500. Rate B is applied to this number.
This means that even if you have both been paying rate A throughout the year you WILL RECEIVE a tax bill for 2010 for the difference you have already paid and the amount the calculation comes to.
My advice is to start saving! We have learnt the hard way and been hit with a bill for 2009, depsite thinking we were taxed at source. Our bill for 2010 is not due until this time next year at least, so we can get saving for the difference.
Please note I have no experience in dealing with tax, but wanted to warn others out there who like us was shocked to receive a tax bill when we are taxed at source.
The text you are quoting:
I spoke to the Geneva Tax office today and got told some very bad news:
We are a UK married couple, no children, permitt B, both working in Geneva, taxed at source.
How the system works is we should both be paying Tax Rate A (single person) direct from our employers. Our salaries are then added together at the end of the year and taxed at rate B for the combined income.
So say we earnt 100'000 CHF as a couple. For 2009 there was a couple's allowance of CHF 3850, meaning we only earnt CHF 96'150 for tax purposes. This amount would then be taxed at rate B for this pay band. For 2010 the allowance is only 500 CHF, so our earnings would have been CHF 99'500. Rate B is applied to this number.
This means that even if you have both been paying rate A throughout the year you WILL RECEIVE a tax bill for 2010 for the difference you have already paid and the amount the calculation comes to.
My advice is to start saving! We have learnt the hard way and been hit with a bill for 2009, depsite thinking we were taxed at source. Our bill for 2010 is not due until this time next year at least, so we can get saving for the difference.
Please note I have no experience in dealing with tax, but wanted to warn others out there who like us was shocked to receive a tax bill when we are taxed at source.
fiorinic, Oct 27, 2010 @ 12:45
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