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RE: swiss-list: Anticipated Tax in Switzerland

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RE: swiss-list: Anticipated Tax in Switzerland

From: ******************* <click for textversion of email address >
Date: Tue, 26 Feb 2002 06:31:22 -0800
X-Mailer: Microsoft Outlook IMO, Build 9.0.2416 (9.0.2910.0)

Marc,
If your Swiss bank account only has money in it, no stock or securities
portfolio, your account will not be declared to the IRS.

But if you do have a portfolio, you will have to either:
1. sell your stock, mutual funds, etc. in Switzerland and make investments
elsewhere
2. or sign a discharge allowing your Swiss bank to communicate your
investments (capital gains) information to the IRS

Or get a EUR savings account with the UBS at 2.5%, or a CHF savings account
at 1.25%.

*********

-----Original Message-----
From: owner-swiss-list_at_ars.net [mailto:owner-swiss-list_at_ars.net]On Behalf Of
Marc Audard
Sent: Tuesday, February 26, 2002 3:06 AM
To: Swiss List
Subject: swiss-list: Anticipated Tax in Switzerland

Hi,

I am new to this list, and would like to say hello to everybody.
It may well be that I'll send some e-mails around in the following
months.

In a few months, I'll be leaving for NYC, and I am planning my
travel and administrative stuff. I have a question related to
having a Swiss bank account for non-resident aliens and resident
aliens (in the sense of IRS).

In the first year, I will be a NR alien, therefore I should not
be taxed for any income not related to USA, which is for example
the case of my bank account in Switzerland. How can I manage to
have the anticipated tax taken in Switzerland (35%) back?

A similar quesion is for the following years, when I will be
a resident alien. There at least I will have to mention this
account, since I would be taxed on the income from the whole
world.

Does anybody have an idea?

Note that I intend to move the majority of my money to the US,
since nowadays the interest rate in the US is not too bad compared
to what is offered here in CH (0.25% for a personal adult account
at UBS, while I have at least 0.75% in the US on a checking account...).
However, I will still have some money kept here, e.g. 2nd pillar,
3a pillar, some money for a swiss credit card (at least in the beginning),
etc.

Regards,

        Marc

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Received on Tue Feb 26 2002 - 14:35:12 PST

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