In Switzerland, you are required to declare your cryptocurrency holdings in your annual tax return even if you have not sold or traded them during the year.
Cryptocurrencies such as Bitcoin are treated as movable assets, similar to bank account balances or shares. As a result, they are subject to wealth tax, which is levied at the cantonal and communal levels. The value you report should be the market value as of 31 December of the relevant tax year.
The Swiss Federal Tax Administration (FTA) typically publishes year-end reference rates for major cryptocurrencies to help standardise declarations.
You can find these reference reports at the following links:
German
French
Italian
This document is not available in English.
Although unrealised capital gains on cryptocurrencies are not taxed for private individuals, the assets themselves must still be included in your total declared wealth. This includes holdings on foreign exchanges, private wallets, and even hardware wallets.
You are usually not taxed on appreciation or gains unless you are classified as a professional trader, in which case the profits could be taxed as income. The FTA has published guidelines on how it distinguishes between private and professional trading, and the criteria are similar to those used for other securities (e.g. volume of trading, holding periods, use of leverage).
If you have earned cryptocurrency through mining, staking, or as payment for services, this may be treated differently. Such income is typically taxable and must be declared under income rather than just as part of your wealth.
It is important to keep proper records of your holdings, including purchase dates, transaction history, and valuations, in case of audit or additional questions from the tax authorities.
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Please note that all content within this response has been prepared for information purposes only. This response does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.