Articles
Accountant Switzerland
Updated on Thursday 26th October 2023 Rate this article
based on 3 reviews
based on 3 reviews
Our accounting services in Switzerland are meant to efficiently control the business expenses for our clients and also save their time and efforts. Our accountants in Switzerland are at the service of all those who need accounting services, such as: audit, bookkeeping and payroll services.
The Swiss taxation system is a three-tier one which is why it can prove difficult to compute and pay the levies in accordance with all the regulations imposed by the federal, cantonal and municipal authorities. This is one of the main reasons for which many foreign citizens and companies request accounting services in Switzerland.
| Quick Facts | |
|---|---|
| Tax registration support (YES/NO) | YES, our accountant in Switzerland can handle the tax registration procedure on behalf of companies |
| VAT registration services (YES/NO)
| YES, VAT registration services are also available for our clients in Switzerland |
| Payroll and HR assistance (YES/NO)
| Payroll and HR services are offered to companies requesting them |
| Audit services (YES/NO) | YES, we also have auditors we work with in Switzerland |
| Bookkeeping services (YES/NO) | Bookkeeping is one of the most requested services in Switzerland |
| Financial statement filing services (YES/NO) | YES, financial statement dratfing and submission enter the attention of our accountant in Switzerland |
| Accounting services for foreign companies in Estonia (YES/NO) | We offer tailored accounting services for foreign companies operating in Switzerland |
| Accreditted accountants availability (YES/NO) | YES, our accountants in Switzerland are members of the Swiss Expert Association for Audit, Tax and Fiduciary |
| Personal income tax rate | The personal income tax ranges from 0.77% for single tax payers to 11.5% for married taxpayers at a federal level. Cantonal and municipal taxes also apply at different rates |
| Corporate tax rate | The corporate tax rate is levied at 8.5% at a federal level and cantonal taxes apply at rates ranging from 11.34% to 19.70% |
| VAT rate | 8% standard rate applies to all good and services sold, respectively provided in Switzerland |
| Availability in various cantons (YES/NO) | YES, our accountants in Switzerland are present in several cities and cantons in Switzerland, among which Zurich, Zug, Berne, Schwyz, etc.
|
| Access to tax incentives/deductions (YES/NO) | YES, federal and cantonal tax deductions and exemptions are available for natural persons and companies |
| Access to double tax treaties (YES/NO) | YES, Switzerland has around 80 double taxation agreements |
| Other services | Support in investment fund tax matters, tax planning solutions, tax optimization assistance, customized accounting support based on the canton companies operate in |
| Accounting services for sole traders (YES/NO) | Yes, we also offer accounting solutions to single entrepreneurs. |
| Accounting services for SMEs (YES/NO) | Yes |
| Tax minimization/planning advice (YES/NO) | Yes, we can support businesses with tax minimization services. |
| Tax consultancy services (YES/NO) | Yes, we can offer canton-based consultancy services. |
| Representation with tax authorities (YES/NO) | Yes, you can rely on our accountant in Switzerland. |
| VAT registration threshold | CHF 100,000 for foreign companies |
| Dividend tax rate | 35%, however, lower rates are available under Swiss double tax treaties. |
| Payroll tax rates | - 14.375% to 28.375% for employees, - 13.845% to 41.505% for employers |
| Financial statement filing deadlines | 6 months from the end of the financial year |
| Applicable accounting standards | - Swiss GAAP (Generally Accepted Accounting Principles), - IFRS (International Financial Reporting Standards) |
| Tax authorities in Switzerland | - Ministry of Finance, - Federal Tax Administration with its cantonal offices |
| Tax registration timeframe (approx.) | A few days |
| VAT registration timeframe (approx.) | Several days after the incorporation of the company |
| Our locations | We have offices in Zurich, Zug, and Geneva. |
| Advantages of working with an accounting company in Switzerland | - wide range of services; - tailored solutions you can choose from; - customized services based on company size, etc. |
Who needs an accountant in Switzerland?
After opening a company in Switzerland, all foreign investors will be needing quality accounting services in order to make sure their businesses benefit from the best and most suitable taxation and bookkeeping advice. Our accountant in Switzerland offers professional advice and consultancy in a wide range of financial services.
Services offered by our accountants in Switzerland
• Audit services in Switzerland
For an accurate and professional audit of our clients, our accountants verify all evidence supporting the financial statements so that all material misstatement will be eliminated. The statements of annual accounts must be filed on an annual basis in accordance with International Financial Reporting Standards (IFRS) applicable in Switzerland.
• Consultancy for Double Taxation Treaties in Switzerland
These treaties are signed by the Swiss Government in order to attract foreign investors and basically their purpose is to avoid double taxation of countries activating in more than one country. Therefore it is advisable for entrepreneurs opening companies in Switzerland to benefit from the experienced advice of an accountant knowledgeable in regards to the provisions of these treaties and that can provide assistance and representation in this matter. Clients can always rely on our accountant in Zurich for professional and personalized taxation consultancy. We can also advise on any tax or trading agreement signed here and we can assist foreign businesses with information on the usage of the EORI number in Switzerland.
• Tax consultancy in Switzerland
We provide assistance in organizing the financial department, documentation preparation for loans applications, flow of documents, financial and accounting policies. Our tax consultant in Zurich can also help with the taxes for company registration in this country. A quick and reliable reporting mechanism that can submit financial statements in multiple languages and in accordance with various reporting standards must be in place for businesses in Switzerland to be able to comply with their financial reporting requirements to both local government agencies and group finance departments. In this sense, you can rely on us for complete accounting services in Switzerland.
• Company Management in Switzerland
A well conducted company management process can lead to the improvement of the company’s financial results. Furthermore the company can consolidate its position on the Swiss market if decided to turn to the advice of an accountant in Switzerland specialized in the country's legislation and accounting policies.
• Payroll services assistance in Switzerland
Any investor opening a company in Switzerland can realize that his company can benefit from the professional advice of an experienced accountant in regards to payroll processes and procedures. Our accountant in Zurich can prepare the payrolls and statements related to the employees statements.
We also at your service if you want to obtain a virtual office in Switzerland.
Our main accounting services for companies in Switzerland
The taxation of individuals earning money in Switzerland implies filing tax returns based on which the amount due is calculated and imposed on the taxpayers. When it comes to the taxation of salaries, all taxes and levies are withheld at source.
In the case of companies, however, there are various aspects to consider which is why our accountant in Switzerland is at the service of company officers who need assistance in how to comply with the tax legislation in this country.
These are the main services your company can rely on our accountant in Switzerland:
- tax consultancy in accordance with the plans and economic projections of your company;
- audit services for your company – we offer various types of audits, some imposed by the law, others at the request of business owners;
- bookkeeping which is at the core of any activity undertaken by a Swiss company;
- payroll and HR which implies the preparation of all documents associated to your status as an employer;
- financial statement preparation and filing, as well as tax and VAT registration in Switzerland.
Apart from these, you can also rely on us for Swiss company formation services.
If you need any other services that were not listed above, do not hesitate to ask for information with our accountant in Switzerland.
Setting up taxation for a Swiss company
Our accountants in Switzerland can take over the accounting in your company from zero or from any point of the activity completed, as you want.
For newly incorporated companies, we can set up the accounting from the beginning. This means that we can handle the registration for tax purposes and for VAT. If you don’t want to register the business for VAT from the beginning, you can wait until the mandatory threshold is reached.
Then, we can set up the payroll. This means that we will register the company as an employer, plus all the employees for the following:
- - health insurance,
- - pension,
- - accident and occupational disease insurance,
- - unemployment insurance.
Apart from these, there are also other insurances we can enroll your company with.
The creation of payroll for a company implies a lot of work and many documents to prepare and keep track of, which is why many Swiss companies choose to outsource this department to specialized accounting firms.
Bookkeeping services in Switzerland
Another important service you can benefit from with our accountant in Switzerland is bookkeeping. This implies the day-to-day management of invoices, sale and purchase orders and other documents that enter and leave the company.
We can handle the preparation of all these documents as well as their recording in the company’s accounting as they will be required at the end of the year when they must be aggregated to the financial statements in order to provide for an accurate picture of the business’ accounting.
Some of them will also be required when performing the audit of the company.
Bookkeeping requires a lot of attention which is why you will need a specialist in this field in order to make sure everything is in order.
Apart from these, you can also rely on us if you want to open a company in Switzerland.
Our specialists work together in order to offer the most relevant services to local and foreign investors who want to do business in Switzerland.
Audit services in Switzerland
Swiss companies are required to comply not only with accounting regulations, but also with audit ones. Audits must be completed by specialists who must consider various requirements and standards.
In order to ensure the fairness of the accounting records and documents that need to be submitted with various authorities in the country, our accountant in Switzerland can also offer tailored audit services.
While some audits are required by the law, there are also internal audits through which business owners can measure the results and the activity of their businesses.
Returning to the mandatory audits these are:
- - the regular audit,
- - the limited audit.
Apart from these, there is also the audit waiver, which is available only in certain conditions.
In legal terms, the audit regulations were changed in 2008 when not only public companies had to have their accounts audited, but also private ones. Under the current legislation, most Swiss companies must undertake audits.
Regular audits must be undertaken by the following categories of businesses:
- - companies selling shares on the Stock Market,
- - companies that issue bonds,
- - companies with assets or turnover that represent at least 20% of the consolidated financial statements for at least 2 years.
-
The 20% limited can be reached in the following ways:
- - when the total balance sheet of the company is 20 million CHF,
- - the company’s turnover is 40 million CHF,
- - when the company has an average of 250 employees.
This is also the case of holding companies with more subsidiaries and that need to file consolidated financial statements. If you need to know whether your company qualifies for a regular audit or not, our accountants in Switzerland can advise.
Also, if you want to create a holding company which is one of the most prolific types of entities here, our Swiss company formation officers are at your service.
With respect to the limited audit, it applies to all companies that do not meet the regular audit requirements. Also, audit waivers are available for small businesses with less than 10 employees.
For this and other accounting services, you can rely on our tax consultant in Zurich.
Payroll and HR services for Swiss companies
One of the most stringent aspects Swiss companies need to handle is the human resources and payroll departments. These usually work together, however, they imply respecting Employment Law and accounting regulations at the same time.
When working with an accounting firm in Switzerland, business owners will have more time to focus on the actual activities rather than those related to issuing paychecks and completing paperwork for various authorities.
Our accountants can handle the following aspects when it comes to the payroll and HR for your Swiss company:
- - drafting and amendments to work contracts;
- - registration as an employer of the company,
- - registration of all employees and their removal upon termination of work relations,
- - preparation of the payroll,
- - issuance and distribution of monthly payslips and salaries,
- - drafting of monthly, quarterly and annual payroll statements,
- - social security payments,
- - updating the database of employees and reconciliation of employment documents.
All information handled and updated by our accountant in Zurich will also be visible to the employer in order to have real-time knowledge on his/her business.
Accounting Standards in Switzerland
Accounting standards in Switzerland are performed through national regulations, as the country is not a member state of the European Union (EU). Companies in Switzerland are required to comply with the Swiss Generally Accepted Principles (SGAP), as stated by the Swiss Code of Obligations. The main institution which provides the legislative framework for the accounting principles in this country is the Swiss Foundation for Accounting and Reporting. Our team of accountants in Switzerland can offer in-depth assistance on the legal principles that are to be performed by any commercial company operating here.
Regulations for accounting procedures presented by our accountant in Switzerland
Companies operating in Switzerland are required to prepare various accounting documents, that should be submitted with the relevant institutions. All companies in Switzerland have to prepare financial statements, except companies which operate as private partnerships and private enterprises.
At the same time, listed companies in Switzerland have to submit financial documents following the Swiss GAP, as long they are registered in this country. Our accountant in Switzerland can offer in-depth advice on other types of legal entities that are required to submit financial documents. It is important to know that a fiscal year in Switzerland starts on 1st of January and ends on 31st of December.
Financial documents for Swiss comercial companies
A legal entity operating in Switzerland is considered a commercial company if during the registration procedure, the business form was registered with the Commercial Register.
In this case, such companies have to prepare a set of financial documents, as stated by the Swiss Code of Obligations:
- • a book-of-account;
- • a balance sheet;
- • a profit-and-loss statement;
- • an inventory;
- • the notes.
Certain documents, such as the balance sheet, income statements and notes, have to be prepared every financial year. They have to be concluded following the accounting principles applicable here and they should provide a clear image on the financial situation of the company. After completing the company’s financial statements, they will be presented to the Board of Directors, in a period no longer than six months after the end of the financial year. As a general rule, such documents are publicly available, but the regulation is not applicable to non-public Swiss companies.
Businessmen are invited to contact our tax consultant in Zurich for further advice on the accounting standards available here. Our accountants can also provide advice on the requirements for submitting such documents.
We also invite you to watch our video on accounting services in Switzerland:
Accounting services in various cities across the country
Switzerland is an important financial center, however, it also has cities in which companies from other industries thrive. In order to respond to the needs of companies in Switzerland’s major cities, our accountants can provide their services in regions and cantons like Zurich, Zug or Neuchâtel.
Our services are based on the size of your business and are tailored to the exact needs of your company, which is why you can choose for assistance in one or more matters.
With the help of our company registration agents in Switzerland we try to offer complete solutions to local and foreign businesspersons.
Why externalize the accounting department?
Switzerland’s taxation system is slightly different from those of other European countries which can make things a little bit more complicated when having to pay taxes. This is the major advantage of working with an accountant in Switzerland who will be able to cover a broad area of the accounting matters required in a company.
An accountant can also advise on how to cut costs and how to channel money into the essential parts of a business, so if you need such services, do not hesitate to use specialized services that will cost you less on a long term.
The Swiss taxation system
As mentioned in the beginning of this article, the Swiss taxation system is a three-tier one which means that there are three levels of taxation, as it follows:
- - the corporate tax rates at a federal level range between 7.8% and 8.5%,
- - in the case of individuals, the income tax ranges between 0% and 13.20% at a federal level,
- - the value added tax (VAT) is imposed at a standard rate of 7.7%,
- - capital gains are imposed at rates ranging between 0% and 8.5% at a federal level.
Apart from these, the cantonal and municipal taxes must also be considered, in accordance with the requirements imposed by the Federal Tax Administration in Switzerland.
For more details and a personalized offer please contact our accountants in Zurich. Also, if you don't have a business yet, but you are thinking of starting one, our experts can help you open a company in Switzerland.
If you need other types of services, for example assistance for obtaining a Golden Visa for Portugal, we can put you in contact with our partners.
EVALUATE YOUR CHANCES OF IMMIGRATING TO SWITZERLAND!
Check your eligibility now!
Don’t forget to SHARE
Meet us in Zug
Call us now at +41 76 328 90 50 to set up an appointment with our experts in Zug, Switzerland. As our client, you will beneficiate from the expertise of our local consultants for opening a company in Switzerland.
We offer:
- cost-efficiency: competitive company formation prices;
- prompt response to your inquiry (maxim 24 hours);
- free and complete legal information featured on our site, at your disposal.
Contact usTestimonials
Being a member of BridgeWest legal network, I had the pleasure to work with colleagues at CompanyFormationSwitzerland.com. They handled successfully numerous company formation cases for my clients interested in starting businesses in Switzerland.
Mihai Cuc, Partner of MHC Law Firm