Switzerland Tax Rates

The 2015 tax rates in the nation of Switzerland are based on aggregate sums of all kinds of income. Tax bills can be reduced by way of allowable deductions.
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Individuals who work in Switzerland but actually aren’t residents of the country won’t be allowed to claim any personal deductions. Their tax bills will general be higher as a result of not having any deductions.

Federal Personal Income Taxes

Different rates generally apply for married and single taxpayers, but the bracket structure is essentially the same. While a majority of taxpayers won’t receive any type of credit or allowance, some might be given a fixed amount of money that can be kept without paying any taxes on it. Anyone who receives a credit has to subtract it from his or her gross income before reporting it.Tax Rates in 2015 in the Swiss Confederation

The approximate Swiss bracket structure is as follows:

  • Those who earn between approximately Fr14,185 and Fr31,085 pay 0.77 percent of their total income.
  • Those who earn between Fr31,085 and Fr40,673 have to pay 0.88 percent in taxes.
  • Those who earn between Fr40,673 and Fr54,221 are assessed at 2.64 percent.
  • Those who earn between Fr54,221 and Fr71,217 have to pay 2.97 percent.
  • Those who make between Fr71,217 and Fr76,830 pay 5.94 percent.
  • Those who make between Fr76,830 and Fr101,987 pay 6.60 percent.
  • Those who make between Fr101,987 and Fr132,506 have to pay 8.8 percent.
  • Those who make between Fr132,506 and Fr173,270 have to pay 11 percent.
  • Anyone who makes more than this is assessed at a maximum capped rate of 13.2 percent.

Cantonal Income Tax Structures
Each individual Swiss canton levies a separate income tax on individuals. These tax brackets are progressive, and the rates are different for married and unmarried persons. These tax rates can actually rocket above federal ones for top earners. While taxes in Zurich are capped at similar rates to the federal government, Geneva uses a complex formula that might actually charge some people much more than what they might get charged by the federal government.

For instance, people who make more than Fr1,000,000 will have to pay nearly 18 percent in taxes if they live in Zurich. While this might be considered relatively generous by international standards, it’s still quite high compared to the federal tax rate. Those who earn this much in a year will probably also get charged some type of wealth tax in addition to a separate municipal tax.

Municipal Tax Rates
A few local authorities levy taxes on income as well. Municipal income tax structures are generally based around cantonal brackets. This means that someone might actually have their income taxed three times at two different rates. Annual wealth taxes are levied at the cantonal level, but these aren’t tied to a bracket structure. They’re usually assessed on gross income over a certain level. Few people will actually be assessed these even if they happen to live in a municipality that does charge other types of taxes.