🇨🇭 Valuing your Indian property from Switzerland

Cantonal wealth tax looks at worldwide net wealth

Switzerland levies wealth tax at cantonal and communal level on net wealth wherever it sits, so the Indian property forms part of the base. This is an annual exposure rather than something that arises only on sale, which surprises people who assumed foreign property was invisible.

Exemption with progression, explained plainly

Foreign immovable property is generally taxed in the country where it sits, and Switzerland typically exempts it. The catch is that the value is still taken into account in determining the rate applied to everything else. So the Indian flat may attract no Swiss tax directly and still increase what you pay on your Swiss assets and income.

That makes an accurate figure worth having rather than an inflated guess. Overstating the property costs you money through the rate.

Inheritance, which is cantonal too

Inheritance and gift tax rules differ by canton, including who is exempt and at what rate. Where foreign property falls into scope, the figure required is the value at the date of death, converted to francs at the rate applying then.

The Indian side

Deduction at source applies to the sale value unless a lower deduction certificate is obtained first. Repatriation needs certification from a chartered accountant, which needs the gain computed from an evidenced cost.

What to tell us

Your canton, the date your adviser needs the valuation as at, and whether the requirement is annual or one off. Reports issue in rupees with a Swiss franc conversion stating the rate and its source.