Return of loan from outside EU into Swiss bank, anything to know?

Finance, Taxes, Banking, Insurance and Retirement
21
So they are not Russian?

22
wow... this is quite low baseline. Literally most of the people should submit regular tax

23
when you do your 2021 tax declaration you put it as a loan.

When you do your 2022 tax declaration you set the money off against the loan.

Job done.

24

Fortunately no

25

Thanks, this seems in line with what I read on the web

26
As for money laundering, can you use the same accounts as when opening the loan? At least on one side? That might be the best way, add a remark like "loan payback, opened on month-year" so whoever checks it knows where to look and thus what it compares to.

27
Tom had to groan. But I do believe any large sum of money coming from Russia will come with a lot of questions.

28
The chances of a large sum currently coming from Russia are next to zero.

29
jesus people it's not coming in from russia

would a worst case scenario be it being liable for a gift tax that I read is around 25% maximum?

30
The rate of gift tax depends on the canton. The canton where the benefactor has its residency levies the gift tax. If you think a bit logically you might deduct yourself what that could mean in your case.

31

I usually ignore passive agressive behaviour but I have some free time now so...

Thank you for this great post, in which you did not provide a single gram of helpful content and you were a little unkind at the same time. Congratulations. You win the prize.

32
It was a bit rude, but it did contain helpful content. aSwissInTheUS mentioned that the canton of the giver levies the tax (at least, it is so for ZH, you should check for yours), so getting cash outside of Switzerland in this case would have no tax liability for you.

But this may also be a double edges sword: if this is a gift from your friend, what was the payment from you to your friend? Also a gift, since it is not a loan? If you were already living in Switzerland and that payment is traceable - you avoided paying gift tax, because that gift had a tax liability in your canton

33
I second that, you anyways need an accountant in Switzerland, taxes are too complex to deal on your own; especially if you own a company etc.