Swiss Tax Returns 2025: What Individuals With an International Background Should Know

Filing a Swiss tax return can feel deceptively simple — until it isn’t. Whether you’re filing for the first time or have been in Switzerland for years, here are some key points worth keeping in mind this tax season.

1. Withholding tax isn’t always the end of the story.

Many individuals with a B permit assume that being taxed at source (Quellensteuer) means that they are exempt. In reality, more people are required — or strongly advised — to file an ordinary tax return. In some cases, it might also be better to avoid filing an ordinary tax return depending on the situation. 

If you are considered a Swiss tax resident, taxed at source and your annual gross income is above CHF 120,000, you must file a tax return anyway. However, if you are a non-resident or if your annual gross income is below CHF 120,000 you might be required to apply for a tax return. 

Additional private income and assets (including foreign income and properties) might lead to a tax return, and you need to apply for a mandatory tax return. If you do not have any significant private income and assets, but you would like to apply additional tax deductions, you can apply for a voluntary tax return. Both applications need to be filed by the end of March. What is often overlooked: filing voluntarily can sometimes reduce or increase your overall tax burden. Thus, be careful.

2. Deductions are more nuanced than they look.

Beyond the well-known deductions (pillar 3a, insurance premiums, commuting), 2025 continues the trend of closer scrutiny around work-from-home costs, professional expenses, and double households. Expats with cross-border workdays or hybrid roles should be particularly careful here — allocation matters.

Also frequently missed:
•    Childcare and education-related deductions.
•    Support payments to dependents abroad.
•    Professional relocation or requalification costs.

3. Foreign assets and income: transparency is key.

Switzerland’s information exchange standards remain strict. Foreign bank accounts, investments, rental income, and even certain pension entitlements must be declared — even if they are taxed elsewhere.

The good news: double taxation treaties often prevent actual double taxation, but only if things are declared correctly and consistently.

4. Wealth tax still surprises people.

Unlike many countries, Switzerland levies an annual wealth tax. For expats, this can include assets held abroad, vested pension capital, and investments that do not generate income. Valuation rules can vary by canton, and small differences can have a noticeable impact.

5. Life changes matter more than people expect.

Marriage, divorce, a move to another canton, stock options vesting, or becoming self-employed — all of these can significantly change how your tax return should be handled. Filing “the same way as last year” is one of the most common (and costly) mistakes.

When professional support makes sense?

If your situation involves international income, multiple jurisdictions, equity compensation, or simply a lack of time and patience for Swiss tax forms, getting help can save both money and stress.

We work with expats and international employees across Switzerland and globally on tax return preparation, reviews, and strategic advice, making sure filings are compliant, optimized, and easy to understand. If you are unsure whether you even need to file — that is something we can help clarify quickly.

If you would like guidance with your 2025 Swiss tax return — or simply a second opinion for peace of mind — you are very welcome to get in touch at ch_globalmobilityswisstax@vialto.com. We will provide access to our secure private client platform, VialtoDirect, where you can choose the level of support you need, complete a short ID verification, and arrange payment easily by credit card. The process is straightforward and designed to fit around your schedule.

Sometimes one short conversation is enough to avoid a year of tax headaches. Please also find attached our flyer with some information around our fees for Switzerland. Do you also need help in other countries? Do not hesitate to reach out to us, we are present in over 150 countries globally.

Seline Rohner
Senior Manager, Vialto Partners
seline.rohner@vialto.com