'Late Submission of Tax Returns in Switzerland': Is Hiring an Accountant Still Necessary?
Finding a Reliable Tax Advisor in Switzerland: A Guide
Navigating the Swiss tax system can be a daunting task, but choosing the right tax advisor can make all the difference. Here's a step-by-step guide to finding a reliable tax advisor in Switzerland.
Step 1: Choose a Reputable Firm or Advisor
Opt for a firm or advisor with professional affiliations and a strong track record. For instance, firms like ECOVIS Switzerland are members of TREUHAND|SUISSE, the main Swiss fiduciary association, ensuring adherence to professional standards. Nexova AG is another trusted option with high client satisfaction and expertise in tax and fiduciary services.
Step 2: Seek Experts Providing Tailored Support
Reliable advisors offer more than just basic filing. They provide thorough bookkeeping, tax return preparation, and ongoing reviews to catch errors early and ensure deadlines are met.
Step 3: Get a Second Opinion Service
If you suspect past errors, some firms offer return reviews to identify mistakes and amend prior filings, which can protect you from penalties and potentially recover refunds.
Step 4: Confirm the Advisor's Experience with Your Specific Situation
If you're self-employed, freelancing, or have cross-border income, these add complexity to tax returns. Professional fiduciaries can guide you through intricate areas like VAT and international tax laws as needed.
These steps are particularly useful for foreign nationals unfamiliar with Swiss tax declarations.
Important Considerations
- It's advisable to contact a potential tax advisor before the next tax season to discuss one's specific financial situation and ensure they can handle the tax declaration in a timely manner.
- Choosing a tax advisor who primarily works with individuals could help prevent poor service.
- Some accounting firms may prioritize larger corporate clients over individual clients, potentially leading to poor service.
Dealing with Late or Error-Filled Declarations
In case of late or error-filled tax filings despite guarantees, one can file an official complaint with an ombudsman recognized by the Federal Department of Finance (FDF). The FDF provides information on how to file a complaint for issues with financial service providers.
Late tax filing can result in penalties, making the intervention of an ombudsman important in such cases. A FINMA license guarantees that a firm is trustworthy and operates in accordance with established rules (if it is large enough to fall under FINMA's rules).
In some cases, readers have encountered issues with accounting firms. For instance, a reader from Vaud had a negative experience with two accounting firms, with one firm filing the tax declaration late with errors and not responding to queries from the authorities. Despite multiple attempts to contact the second firm, the reader has received no response.
In such situations, it's crucial to remember that the cost of these services depends on the complexity of the financial accounts. The cost may increase due to late filings and corrections, as the reader incurred a fine and was billed for the corrections and answering the queries.
In conclusion, selecting a well-established fiduciary or tax advisory firm in Switzerland with memberships in recognized associations, good client reviews, and services beyond just submission—such as review and consultation—will help you avoid late submissions and errors in your tax declarations. Firms like ECOVIS and Nexova are examples of reliable options to consider.
On top of complying with professional standards, it's essential to find a tax advisor with expertise in various sectors, such as finance, lifestyle, home-and-garden, and business, as their understanding of diverse fields can provide comprehensive advice, especially when dealing with personal-finance matters.
Moreover, ensuring your tax advisor offers tailored support, including ongoing reviews, is crucial for identifying errors early and staying up-to-date with ever-changing tax laws and regulations.
