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Tax Question

Mar 15, 2016 @ 15:37

Hello,

My Wife and I just moved here last Nov. She has been working since we arrived, I have not.

We have consulted a tax specialist here, (the company was actually recommended per our US global tax consultants) and we just want a second opinion or general advice on what he has told us - to make sure nothing is being lost in transalation.

He said we don't need to file a return, which seems surprising, here are his exact words...

"Dear Dan

FOllowing our TC, I confirm as stated in the attached that since you live in Geneva, the conditions to file a return are linked to the level of income (exceeding CHF500K) and the level of wealth CHF165K. Since you don’t reach these levels of income and wealth, you cannot file a normal tax return.

Having said that, you can reduce your swiss tax burden (tax at source) if you do some optimisation trough life insurances and buyback in your pension fund.

I remain available for a meeting."

So in the email he says "cannot file a normal tax return", but over the phone he said NO NEED TO FILE AT ALL, unless, as he mentions we want to reduce tax burden?

Any help, insight, or reccomendations to a tax consultant at all would be great.

Thanks

The text you are quoting:

Hello,

My Wife and I just moved here last Nov. She has been working since we arrived, I have not.

He said we don't need to file a return, which seems surprising, here are his exact words...

"Dear Dan

Having said that, you can reduce your swiss tax burden (tax at source) if you do some optimisation trough life insurances and buyback in your pension fund.

I remain available for a meeting."

So in the email he says "cannot file a normal tax return", but over the phone he said NO NEED TO FILE AT ALL, unless, as he mentions we want to reduce tax burden?

Any help, insight, or reccomendations to a tax consultant at all would be great.

Thanks

daniel creedenMar 15, 2016 @ 15:37

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Re: Tax Question

Post 1

Mar 15, 2016 @ 16:59

Your tax consultant is right (I assume here that he knows all the details of your situation i.e. no real property in Geneva etc.). Your wife should be, and in all probability is, taxed at source by her employer.

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kruljungli, Mar 15, 2016 @ 16:59

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Re: Tax Question

Post 2

Mar 15, 2016 @ 17:25

Go so a fiduciaire and they will be able to file a tax declaration for you. It costs around CHF200.

It seems to me that your tax consultant is not very keen to analyse your case.

Under a B permit, it is not mandatory to file a tax declaration, but you can do it and might be able to deduct some expenses as not taxable.

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Go so a fiduciaire and they will be able to file a tax declaration for you. It costs around CHF200.

It seems to me that your tax consultant is not very keen to analyse your case.

Under a B permit, it is not mandatory to file a tax declaration, but you can do it and might be able to deduct some expenses as not taxable.

geojusto, Mar 15, 2016 @ 17:25

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Re: Tax Question

Post 3

Mar 15, 2016 @ 17:43

Tax at source is always higher than a normal tax declaration because of the deductions which you can include. you can go online and find the tax form in geneva and fill it out on line. remember you also must delcare your swiss income to the IRS in the usa as well. but you have until june 15th to do so and june 31st for your bank acount declaration.

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epicure, Mar 15, 2016 @ 17:43

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Post 4

Mar 15, 2016 @ 23:35

Hi Daniel,

no, it is not true, you can fill this form, it is totally up to you, it means it's not obligatory to fill this form for the person pay tax at source,

as I know in Geneva end of the year they will send a letter for you and ask you want to recalculate your taxation or you are ok with the payment at source? for some people it is good depend on 3rd pillar or health insurance or some other life cost that you can deduct, other wise no need to ask recalculate it,

if you havn't recieved this letter yet you can do it online (http://ge.ch/impots/iso-17),

there are some exceptions, if your income is more than 120K/anual or your wealth(cash, property,...) is more than ??? you should fill taxation form

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Hi Daniel,

no, it is not true, you can fill this form, it is totally up to you, it means it's not obligatory to fill this form for the person pay tax at source,

if you havn't recieved this letter yet you can do it online (http://ge.ch/impots/iso-17),

there are some exceptions, if your income is more than 120K/anual or your wealth(cash, property,...) is more than ??? you should fill taxation form

Akbar B, Mar 15, 2016 @ 23:35

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Re: Tax Question

Post 5

Mar 23, 2016 @ 13:00

Thanks to all of you for the great information, we met with our tax rep yesterday and have a much better understanding of how it works now. Thanks again to you all!

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Thanks to all of you for the great information, we met with our tax rep yesterday and have a much better understanding of how it works now. Thanks again to you all!

daniel creeden, Mar 23, 2016 @ 13:00

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