Undeclared money Swiss taxes

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  • BenutzernameMoneyland User Questions
  • Status Member
  • Registriert seit1/27/17
  • Beiträge2142

For some time I have been putting away money in a bank account which I did not declare on my Swiss tax returns. Now I am afraid to declare it and end up going to jail for tax evasion. Is there any legal way to declare the money without sever legal consequences?

  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
  • Status Expert
  • Registriert seit8/4/15
  • Beiträge4016

Hi there,

In Switzerland, all taxpayers are entitled to a one-time amnesty which they can take advantage of to declare previously undeclared assets without punishment.

You must submit a separate declaration of undeclared assets along with your tax return. Declaring your tax evasion separately is important. If you do not submit a separate declaration and simply add the undeclared assets when completing your tax return, the amnesty may not apply and you could be subjected to fines and other legal consequences.

When you declare your assets, you will have to pay back-taxes (maximum 10 years) and accrued interest charges, but you will not face any legal consequences.

Note that this amnesty only applies to the first declaration of tax evasion. Subsequent incidents may make you vulnerable to prosecution.

Best regards from Moneyguru