On 4 January 2019, the Finance Directorate of the Canton of Zurich issued a media release in which it published the number of submissions, the number of cases settled or still to be settled, the after-taxes incurred, the subsequently declared assets and the average yield per case of the voluntary declarations settled in 2018.
Accordingly, a total of 7,250 submissions were received in 2018, which is once again significantly more than in the previous year (6,200). The increase is attributed to the entry into force of the cross-border automatic exchange of information (AEOI). Subsequent declarations were mainly made of domestic and foreign bank balances, securities deposits and foreign real estate. In many cases, the amounts involved are comparatively small. The cantonal tax office was able to process and close 5,000 cases (compared with 3,800 in the previous year).
The voluntary declarations completed in 2018 brought the canton and the municipalities a total of around CHF 98 million and the Confederation around CHF 24 million in additional taxes. This income is based on post-declared income of CHF 260 million and CHF 1.483 billion in sustainable uncovered assets. The average yield for the canton and the municipalities has fallen in 2018 from CHF 22,000 to CHF 19,500.
In December 2018, the tax office received the AIA data reported from abroad from the federal government for the first time. For the time being, the tax office will examine the most important reports from the 347,000 reports received.
The press release is available here.
