Do I have to declare a leased car?

Anderson

Hi guys

I have a short question. Last year I moved to Switzerland, Zurich. After several months I leased a car with the buyout option.
Now, I am filling in my Swiss tax declaration for the first time. Wish me luck ?

The question is, if I have to declare my leased car? I have a doubt, because it actually doesn’t belong to me right now.

Can somebody advise?

Thanks,
Anderson

Taylor

Anderson
Hello Anderson.

Your assumption is correct. The leased car is not considered as yours. Therefore, it is not your asset. You don’t need to declare it in your Swiss tax return.

Please be aware that since you don’t declare your leased car, you also cannot deduct your lease payments (applies to both parts: interest and redemption).

All the best,
Taylor