Wealth tax in Zug is based on the fair value of assets as at 31 December. The canton follows federal valuation standards and uses several official reference lists to ensure consistency across taxpayers. This page summarises key valuation methods and documentation requirements relevant for the 2025 tax year.

1. Real Estate

Real property in Zug is valued using the official tax value (amtlicher Wert), which typically lies between 60–80% of market value. The value is issued by the cantonal land registry and adjusted periodically to reflect economic conditions.

• Include all Zug property at its current official value as at 31 December.
• For property in other cantons, declare the local amtlicher Wert and note it for allocation.
• Maintain the most recent assessment extract from the cantonal database or property tax statement.

2. Listed Securities

Zug adopts the official year-end price list published by the Federal Tax Administration (FTA). These lists cover Swiss and international equities, bonds, and funds, ensuring consistent valuation across cantons.

• Use FTA’s Kursliste (31 December) for each security or fund unit.
• Apply mid-market value where both bid/ask quoted.
• Accrued interest on bonds is included in the year-end value.
• Attach portfolio statements showing 31 December holdings and total market value in CHF.

3. Unlisted Shares & Private Companies

For unlisted companies, Zug follows the federal practitioner method (Praktikermethode), which combines two components:

• Net asset value (NAV): Book equity adjusted for hidden reserves.
• Capitalised earnings value: Average sustainable profit × capitalisation factor (usually 7–10).

The taxable value is typically the weighted average (often 1/3 NAV + 2/3 earnings value), but Zug accepts variations if justified.

• Provide financial statements for the last 2–3 years.
• Explain exceptional items affecting earnings or equity.
• Ensure valuation consistency across owners and years.

4. Other Assets

Assets not falling under real estate or listed securities must still be declared at their fair market value:

• Cryptoassets: Value at 31 December using FTA’s crypto rate list or a recognised exchange average.
• Precious metals: Use published market prices (e.g., LBMA for gold/silver).
• Art & collectibles: Insure at realistic fair value; provide appraisal where significant.
• Cash, deposits, receivables: Nominal balance in CHF equivalent.

5. Foreign Assets & Exchange Rates

All assets must be expressed in CHF using the official year-end exchange rates published by the FTA.

• Apply 31 December spot rates (official FTA conversion list).
• Retain evidence of balances in original currency and the conversion rate used.

6. Liabilities (Valuation for Deduction)

Liabilities are recognised at their nominal value as at 31 December. For foreign-currency debt, apply the same official CHF conversion rate. Interest accrued but unpaid is generally included in the liability balance.

7. Documentation & Verification

• Maintain statements for all assets and liabilities dated precisely at 31 December.
• Ensure valuation consistency year over year — abrupt changes may trigger review.
• Attach valuation reports for unlisted shares or real estate where values deviate materially from previous years.

8. Planning Takeaways

• Valuation discipline is central in Zug’s low-rate environment — small differences affect proportional savings.
• Reassess amtlicher Wert for properties if it exceeds likely sale value; request review if justified.
• For business owners, maintain clear documentation to support practitioner-method assumptions.
• Coordinate valuations with inheritance and gift tax considerations to avoid double counting.