Hey People.
My mother recently moved to Switzerland and has a retirement account from her previous job abroad. She’s unsure how these funds will be taxed once she starts withdrawing them. Are there specific tax implications she should consider when declaring income from foreign retirement accounts?
Moreau
Hey,
If your mother starts withdrawing from her foreign retirement account, she’ll need to declare the income in Switzerland. Generally, retirement income is taxable here, but the exact tax treatment can vary depending on the Double Taxation Agreement (DTA) Switzerland has with the country where the retirement account is held. DTAs typically help avoid double taxation, and in most cases, she'll be taxed only in Switzerland, though some tax credits might apply.
