Those subject to withholding tax in Switzerland may, under certain conditions, apply for a subsequent regular assessment, known as a NOV. This allows for deductions to be taken into account that are not, or only partially, included in the withholding tax.
What Deductions Could Be Relevant?
Depending on your personal circumstances, this could include contributions to pillar 3a, purchases for your pension fund, certain further education or professional development costs, and other deductible expenses.
The Deadline is Crucial
A voluntary application for a NOV must generally be submitted by 31 March of the following year. This deadline should be checked early, as late applications cannot simply be backdated.
NOV Means a Full Tax Return
With a NOV, income, assets, and permissible deductions are assessed comprehensively. The withholding tax already paid is credited. The outcome can therefore vary depending on your personal circumstances.
A NOV can be tax-advantageous, but should not be requested solely based on individual deductions. A preliminary assessment will show whether switching to a regular assessment is worthwhile in your situation.
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