Holding on Zug Notes

What CARF Actually Reports About You: A Plain Reading of the Framework for Individuals

Tue, 18 Nov 2025 00:00:00 +0000

📅 Field note from: November 2025 | Last updated: May 2026 Originally written when CARF implementation timelines were finalised across OECD jurisdictions; updated with Switzerland’s 2027 delay confirmation in May 2026.

Most coverage of CARF focuses on the timeline: when will data cross borders, which countries are included, what does the Swiss delay actually mean. Those are reasonable questions, and I have written about them separately.

What this field note covers is a different question: when CARF does operate, exactly what does it report about you?

Using Crypto Day-to-Day in Zug: What Actually Works and What's Still Friction

Sun, 14 Sep 2025 00:00:00 +0000

📅 Originally written: September 2025 | Last updated: May 2026 Merchant availability and payment infrastructure verified against publicly available sources as of May 2026. The landscape changes quickly — confirm with individual merchants before making plans around crypto payments.

The headline is real: you can pay your cantonal taxes with Bitcoin in Zug. The headline has been real since 2021. But the more interesting question, the one that rarely gets answered, is what happens after you file your tax return.

Declaring Crypto on Your Swiss Tax Return: What "Market Value on December 31st" Actually Means

Fri, 14 Feb 2025 00:00:00 +0000

📅 Field note from: February 2025 | Last updated: May 2026 Originally written during the 2024 tax declaration season; updated with current Federal Tax Administration guidance in May 2026.

Switzerland’s crypto tax framework is structurally simple: private investors pay no capital gains tax, but they do pay wealth tax on the full market value of their portfolio — and that market value is assessed on one specific date every year.

The Swiss Crypto Tax Advantage: Capital Gains Free, But Wealth Tax Is Real — A Plain-Language Guide

Mon, 12 Aug 2024 00:00:00 +0000

📅 Original post: August 2024 | Last updated: May 2026 Swiss tax rules verified against SFTA Circular No. 36 and the 2025 FTA rate list. Canton-level wealth tax rates current as of 2025. Rules can change — treat this as a starting map, not a filing instruction.

The headline travels well: Switzerland does not tax capital gains on crypto.

That part is accurate. A private investor in Switzerland who buys ETH, holds it, and sells it at a profit pays zero tax on that profit. The gain is simply not subject to income tax or a separate capital gains levy. In a world where most developed countries are building increasingly aggressive crypto tax regimes, this is a genuine structural advantage.

What Getting a Crypto-Friendly Bank Account in Switzerland Actually Takes

Mon, 12 Jun 2023 00:00:00 +0000

📅 Originally written: June 2023 | Last updated: May 2026 Figures and bank status verified against publicly available sources as of May 2026. Bank policies and thresholds change — confirm directly with each institution before making decisions.

The pitch sounds clean: Switzerland has FINMA-licensed banks that actually understand crypto. You can hold BTC and CHF in the same place, have your assets genuinely segregated under Swiss law, and not worry that your bank will freeze your account the moment it sees an on-chain transfer.

Staking Rewards in Switzerland: Why They're Taxed as Income (And What That Means for You)

Fri, 08 Apr 2022 00:00:00 +0000

📅 Field note from: April 2022 | Last updated: May 2026 Originally written when Swiss tax authorities first issued clear staking guidance; updated with current cantonal practice and post-Merge staking context in May 2026.

Most explanations of Swiss crypto tax policy start with the good news: capital gains are tax-free for private investors. That part is accurate and important.

What those same explanations often understate is what happens when your crypto generates yield. Staking rewards do not fall under the capital gains exemption. They are taxed as ordinary income — and understanding exactly why, and what that means across different staking setups and Swiss cantons, takes a bit more unpacking than the headline suggests.

The Wealth Tax Calculation: How Switzerland Values Your Crypto Portfolio on New Year's Eve

Mon, 15 Nov 2021 00:00:00 +0000

📅 Field note from: November 2021 | Last updated: May 2026 Originally written shortly before the 2021 year-end valuation deadline; updated with five years of practical observations in May 2026.

Every November here in Zug, I notice the same pattern in the community. Someone who has been happily holding since January starts asking a very specific question: “What does my portfolio actually look like on December 31st — and what does that mean for my tax bill?”

The Six-Month Rule: How to Stay a "Private Investor" Under Swiss Crypto Tax Law

Mon, 14 Sep 2020 00:00:00 +0000

📅 Field note from: September 2020 | Last updated: May 2026 Originally written when SFTA’s professional trader criteria were being widely discussed; updated with five years of cantonal practice in May 2026.

The Swiss crypto tax headline is simple: capital gains are tax-free for private investors. Most people stop reading there.

What the headline omits is that “private investor” is not a default state. It is a classification you need to actively maintain — and the Swiss Federal Tax Administration has published five specific criteria that determine whether you qualify.