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Is interest earned on Swiss pillar 3a retirement savings counted as taxable income? Does the 35% withholding tax apply?
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Is interest earned on Swiss pillar 3a retirement savings counted as taxable income? Does the 35% withholding tax apply?
Hi there,
Interest earned on savings held in 3a retirement accounts or the cash value of 3a life insurance policies, returns earned through 3a investment fund accounts and dividends paid out by 3a retirement funds are not subject to withholding tax and do not need to be included in your income declarations on your tax returns. Interest is taxed along with your total 3a assets at a special rate when you withdraw your assets (normally upon reaching the legal age).
Best regards from Moneyguru
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