I founded my company with adminster.
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Michael Dettwiler
What you can do if it is suddenly worth a lot.
If you have not declared your cryptocurrencies in your tax return for several years, even though the asset value has exceeded the taxable minimum, the tax authorities consider this to be an omission. If this is discovered, it can be considered tax evasion.
But there is a way to rectify the situation without a fine.
The solution: voluntary disclosure without penalty (Art. 175 para. 3 DBG)
Switzerland offers the unique option of voluntary disclosure without penalty. This means that anyone who approaches the tax authorities on their own initiative and discloses undeclared assets will not be fined - subject to certain conditions:
- One-off nature - the voluntary disclosure may only be made once per person.
- knowledge - it must take place before discovery by the tax authorities.
- Completeness - all affected years and all undeclared assets must be disclosed.
- Cooperation - you must cooperate with the subsequent taxation and pay the taxes owed, including interest on arrears.
Important: Even if the original amount was small. The current value is decisive. Anyone who holds an undeclared wallet with a relevant value risks severe sanctions without self-disclosure.
What should you do now?
- Compile wallet history
List all relevant wallets, exchange accounts, transactions and balances. Older paper wallets or inactive accounts also count. - Determine year-end values per tax year
The Swiss Federal Tax Administration (FTA) publishes annual reference rates for the most common coins; these values are relevant for wealth tax purposes. - Consult a trustee or tax advisor
The voluntary disclosure should be professionally prepared and formally correct. - Submit a voluntary disclosure
The disclosure can be made in any form, but should be clearly structured and complete. As your trustee, we know how this is handled depending on the canton. - Accept and pay back taxes
A fine will not be levied, but back taxes and interest on arrears will be charged.
Conclusion: honesty pays off - even with crypto
Switzerland offers a fair opportunity to correct omissions without sanctions with the non-punishable voluntary disclosure. Anyone who has not declared cryptocurrencies for years should take advantage of this opportunity - before the tax authorities find out.
Especially in an area such as crypto, where price fluctuations can be extreme, transparency is the best way to sleep soundly in the long term. The effort involved in self-disclosure is manageable, but the consequences of discovery without self-disclosure are not.
Act early now - we will be happy to support you.
