But for other tokens, is the correct way to declare other digital assets (eg. random small cap tokens) via the section which I think is called 'other assets'. It's just after where you'd declare gold, other precious metals etc. Last year I listed some tokens there and just put a gross value, and was accepted OK, but wondering if there's another best practice
Tax return in Zurich, if you hold some standard tokens like BTC, ETH, you can declare them and get the value recognized the same like stocks etc. Easy.
Just declare what you think the fair market value (at the end of year) was and you'll likely be fine. If you can attach some supporting documentation - even better.
Since the wealth tax in ZH is fairly low, if we are not taking about huge sums of money: on one hand you don't have much incentive at lowballing the price since there isn't much to save on taxes and the tax office also does not care that much since there isn't much to get out of you even if they think it's a bit of a low estimation.
Here is the guidance given by the Zurich Tax Office:
https://www.zh.ch/de/steuern-finanze…zstb-16-5.html
Translation:
"Credit balances in cryptocurrencies are subject to wealth tax (Section 38 StG). For reasons of simplicity, these must be declared in the list of securities and credit balances as “other credit balances” [Übrige Guthaben], stating the name of the cryptocurrency. Proof must be provided by means of a printout of the digital wallet, as of the end of the tax period.
For Bitcoin, the FTA publishes a year-end value. Other cryptocurrencies must be declared at the year-end price of the most common exchange platform for this currency."