In Switzerland, there is no inheritance tax at the federal level. However, there is an inheritance tax at the cantonal level. The regulations vary greatly in the individual cantons. In the cantons of Schwyz and Obwalden, no inheritance tax is levied at all.
Wealth tax is not levied at the federal level but only by the cantons and municipalities. Wealth tax is an annual tax on the taxpayer’s net assets. The tax is therefore levied on the assets after deduction of liabilities and social deductions.
In principle, the target income is taxed, not the actual income. Tax rates are set differently according to canton or municipality of residence and range from 1.3 ‰ to 10.1 ‰. Because taxation is progressive, taxpayers with assets of CHF 1 million and above are particularly affected.
Anyone who owns residential property must also pay property tax in nearly half of the cantons. It is proportional and amounts to around 2 to 3 per mille of the estimated value of a property. The owners or co-owners entered in the land register are liable for the tax.