| TAXATION |
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The amount of taxes depends on how long one has owned the property for. Taxes are subject to IHT in Switzerland. The longer one keeps his property for, the less taxes he pays. |
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Yes, but in some cases the taxes on the income are offset by the interest on the mortgage. |
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In cantons such as Le Valais there are no inheritance taxes., which means that the property goes to the next of kin.
In Vaud, the overall rate depends on the political commune where the deceased person was last domiciled. The rate prevailing at the cantonal level is set by the law. The maximum cantonal rate applicable for spouse, children and grandchildren is 5.25% of the taxable value (80%). The maximum rate for parents and grandparents is 7.5% and 12.5% for brothers and sisters. Such rate increases up to 25% when there are distant or no family ties between the parties. The rate prevailing at the communal level is set each year by each commune. The communal rate can go from 0 to 100% of the applicable cantonal rate and will depend on the family ties between the parties.
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Taxes amount to about 1.3% of purchase price p.a.
They are paid to three bodies:
- The Swiss Government
- The Canton
- The Commune
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