Geneva Wealth Tax Valuation
Geneva Wealth Tax: Valuation Rules
How assets are measured for Geneva’s wealth tax as at 31 December — listed securities, real estate (valeur fiscale), private companies, alternatives, and digital assets. Geneva wealth tax valuation is on the net fair value of assets at 31 December. While cash is straightforward, other asset classes follow specific Swiss-wide coordination and Geneva practice. Using the correct method — and documenting it — is essential to avoid adjustments on review.
This page summarises prevailing practice for individuals. For allowances and debt offsets that reduce the tax base, see Allowances & Deductions. For rates and communal coefficients, see Rates.
Valuation by Asset Class (Summary)
| Asset Class | Valuation Reference (31 Dec) | Notes | Documentation |
|---|---|---|---|
| Cash & sight deposits | Nominal CHF balance | Foreign currency at official 31 Dec FX | Bank statements |
| Listed shares, ETFs, bonds | Official 31 Dec price list | Use the recognised federal securities price table where available | Depot statement; price reference |
| Funds (NAV-based) | NAV closest to 31 Dec | If no 31 Dec NAV, use last available with disclosure | Fund report/NAV notice |
| Real estate (Geneva) | Valeur fiscale (official assessed value) | Typically below market value | Assessment extract; registry record |
| Real estate (other cantons) | Local assessed value | Allocate inter-cantonal wealth appropriately | Local assessment notice |
| Private companies (unlisted) | Swiss practitioner method | Weighted earnings capitalisation & NAV | Financials; valuation worksheet |
| Partnerships / sole proprietorships | Business equity value | Similar principles to private companies | Balance sheet; P&L |
| Precious metals | Indicative 31 Dec prices | Bullion at quoted price; numismatics at fair value | Dealer sheet; statements |
| Art & collectibles | Fair market value | Ordinary household effects are generally exempt | Appraisals; invoices; insurance schedules |
| Life insurance (savings) | Surrender value | Risk-only policies excluded | Insurer certificate |
| Cryptoassets | Recognised 31 Dec reference prices | If not listed officially, use reputable exchange close with evidence | Wallet/exchange statements; price table |
Always align with the current filing year’s guidance and official tables accepted by the Geneva tax administration.
Listed Securities & Funds
Exchange-traded instruments (shares, ETFs, bonds) are declared at the official year-end price recognised for tax. For funds without daily prices, use the closest available NAV to 31 December and disclose the cut-off date.
Real Estate
Property in Geneva
Geneva uses the valeur fiscale (official assessed value) for wealth tax purposes. This value is set under cantonal methodology and is typically below open-market value. Separate from income-tax concepts such as imputed rental value.
Property outside Geneva
Apply the respective canton’s assessment approach and perform inter-cantonal allocation when you hold property in several cantons. Mortgages are apportioned proportionally to the property values they finance.
Private Companies & Business Interests
Unlisted shareholdings are generally valued using the Swiss practitioner method: a weighted combination of capitalised normalised earnings and net asset value. Operating companies are usually earnings-weighted; holding/asset companies more NAV-weighted. Start-ups or loss-makers may require modified approaches.
Adjust for non-operating assets, extraordinary items, and shareholder loans. Justified minority/illiquidity discounts may be accepted where supported by facts and Geneva practice.
Alternatives, Precious Metals, Art
Physical gold/silver: use 31 December indicative prices. Significant artworks/collectibles: declare fair market value; ordinary household contents are generally excluded from wealth. Private equity/hedge funds: use official NAV, or the most recent estimate with a footnote if the 31 Dec NAV is unavailable.
Cryptoassets
Where an official year-end price exists, use it. Otherwise, take a reputable exchange’s 31 December close and retain evidence (screenshot or export). For self-custody, keep address proofs (e.g., explorer link or signed message) matching your records.
Foreign Currency Conversion
Convert non-CHF assets and liabilities at the official 31 December FX rates recognised for Swiss tax purposes. Provide a simple conversion table showing balances, rates, and CHF equivalents for transparency.
Liabilities (for Netting)
Deduct only legally enforceable liabilities outstanding at year-end (mortgages, loans, assessed taxes). Contingent obligations are excluded until due. See Allowances & Deductions for the debt rules.
Worked Valuation Examples (Illustrative)
Example A — Listed Portfolio
- Equities & ETFs: CHF 1,300,000 (official 31 Dec prices)
- EUR cash: EUR 200,000 → CHF at official 31 Dec FX
Declared wealth: CHF amounts per price list and FX table; attach depot statement and FX reference.
Example B — Geneva Apartment & Mortgage
- Valeur fiscale: CHF 1,050,000
- Mortgage balance (31 Dec): CHF 620,000
Net addition to wealth base: CHF 430,000 (plus other assets, less other debts).
Example C — 25% in an Operating SA
- Normalised 3-yr earnings: CHF 2.1m → earnings value at 9% cap ≈ CHF 23.3m
- Adjusted NAV: CHF 16.0m
- Weighting 2/3 earnings, 1/3 NAV → equity ≈ CHF 20.9m
Shareholder interest (25%): ≈ CHF 5.2m (consider minority/illiquidity adjustments if justified).
Compliance & Evidence
- Cut-off: Values must reflect the balance at 31 December.
- Price sources: Keep the official securities/crypto price tables or references used.
- Real estate: Retain the most recent valeur fiscale extract and any revaluation notices.
- Private companies: Provide a transparent worksheet consistent with Geneva practice.
- FX: Attach or reproduce the official FX table applied.