The Canton of Valais (*Wallis*) levies wealth tax on net assets held on 31 December — meaning gross wealth minus recognized allowances, exemptions, and deductible liabilities. Understanding these components can materially reduce your municipal and cantonal wealth tax burden.

The following summary reflects the rules under the Valais Tax Act (Loi sur les impôts du canton du Valais – LICD) and guidance published by the Administration cantonale des impôts (ACI Valais).

Personal Allowances

Valais provides comparatively modest wealth tax exemptions. The allowance depends on civil status and applies once per tax household as of year-end.

Approximate values for 2025; municipalities in Valais apply the same base allowances but their own multipliers for effective tax burden.

Debt Deductions

All enforceable debts outstanding on 31 December are deductible in Valais if properly documented. Common examples include:

• Mortgages on Swiss or foreign real estate
• Bank loans, investment loans, and margin loans
• Documented private loans with written agreements
• Accrued Swiss federal, cantonal, and municipal tax liabilities

Foreign-currency liabilities must be converted using the official year-end exchange rates published by the Federal Tax Administration (FTA).

Contingent debts (e.g., guarantees) are deductible only once they become legally enforceable.

Pension Assets & Retirement Accounts

As in all Swiss cantons, Valais fully exempts occupational pension assets (2^nd pillar) and tied pension accounts (pillar 3a) from wealth tax.

Untied savings (pillar 3b) remain taxable. Pension buy-ins and 3a contributions reduce income tax but do not directly reduce wealth tax.

Valuation Adjustments

Certain asset categories benefit from specific valuation methods in Valais:

• Unlisted business shares: Valued using recognized Swiss practitioner valuation (earnings + net asset value), often resulting in a discount vs. market value.
• Real estate: Taxed at the official valeur fiscale, typically below market value.
• Movable personal effects: Ordinary household items remain exempt; significant art/collectibles are taxed at fair market value.
• Cryptocurrencies: Valued at the FTA’s official year-end price list.

Marital Property & Family Context

Married couples and registered partners are taxed jointly in Valais. The wealth of dependent children is attributed to the parents.

Gifts or inheritances received during the year are taxable as part of year-end wealth unless individually exempt (e.g., certain insurance payouts or pension assets).

Documentation & Compliance

The Valais tax administration expects consistent documentation for both assets and liabilities:

• Bank and securities statements as of 31 December
• Mortgage balance confirmations
• Signed private loan agreements
• Pension account statements (2^nd and 3a pillars)

Consistency across wealth and income declarations reduces the likelihood of assessment adjustments.

Planning Insights

• Because allowances in Valais are comparatively low, asset structuring has a more pronounced impact on taxable wealth.
• Maintaining mortgage leverage on property can reduce the taxable base — though it must be balanced against interest costs.
• Correct valuation of business interests and real estate is essential; official values can offer natural relief.