Taxes and Cost of Living
In
Switzerland,
taxes are generally low, but different in each canton. Basel
has an intermediate tax level. The taxing system is similar in all cantons.
Income
tax
The "Einkommenssteuer" (Income tax) is imposed on the
basis of the taxable income, comprising the sum of all revenues, minus various deductions (costs, general
allowances, social allowances). All residents of Basel and all businesses are liable to taxation. In
Basel-Stadt, income tax is imposed at annual intervals. The tax return is sent out to all taxpayers
after the end of the tax year (tax period). Members of the Protestant, the Roman Catholic and the Old
Catholic denominations as well as members of the Jewish community pay an additional church tax on their
income, which is calculated as a percentage of the cantonal tax.
Wealth
tax
In addition to income tax, the canton also imposes a "Vermögenssteuer"(wealth tax). This is
based on the taxable assets of the taxpayer, comprising the value of all assets,
taking various deductions (liabilities, allowances) into account.
Direct
federal tax
Along with the cantonal (and municipal) taxes, natural persons domiciled in the canton are also subject to direct federal tax. It is declared and assessed along with the cantonal tax.
