In Switzerland, you have to pay wealth tax. The calculation is done by accumulating all your assets i.e. cash, securities, real estate, cars, boats etc. Liabilities (i.e. debt) are deducted from the assets which also applies interest rates from mortgages, overdrafts etc. All people living or working in Switzerland will each year settle their wealth tax. The wealth tax in Switzerland is paid directly to the canton and the municipality and not to the state. Certain pension schemes are exempt from wealth tax in Switzerland.
Wealth tax in Switzerland is low
For the tax rate on wealth the same principles apply as for the income tax in Switzerland, i.e. in most cantons it is progressive. There are exceptions, however, as in the cantons Schaffhausen and Obwalden. In these cantons, the capital tax is depressive for people with large fortunes. The wealth tax is different from canton to canton but they constitute typically around 0.2-1.0 %. Moreover, as a rule a certain threshold must be exceeded before the tax must be paid.