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I am a spread betting enthusiast and earn a decent bit of money on my endeavours through my UK broker. Now that my first Swiss tax season is coming up (I moved here recently), I am interested in knowing if and how spread betting profits are taxed? Are they tax-free as in the UK?
Hi there,
In Switzerland, private investors do not pay capital gains tax on gains in the value of securities. If you use contracts for difference (CFDs) or similar exchange-listed contracts for spread betting, you can claim a tax refund to recover the withholding tax automatically deducted by your broker. This holds true as long as you do not trade frequently enough to be classified as a professional investor (in which case you would be subject to capital gains tax).
If you engage in spread betting through betting agencies or other instruments which are not categorized as securities, you may be required to pay tax on profits as with other income.
Best regards from Moneyguru
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