Is there capital gains tax in Switzerland for private investors?

Switzerland has no federal capital gains tax on private investors' securities gains. If you buy and sell shares, ETFs, bonds, or other securities as a private individual (not a professional trader), the gains are tax-free at the federal level and in most cantons.

The exception is real property: cantonal Grundstückgewinnsteuer (real estate gains tax) applies to profits from selling property. Rates and holding-period discounts vary by canton — longer holding periods generally mean lower rates.

The line between private investor and professional trader matters. The tax authorities may reclassify you as a professional trader if you trade frequently, use leverage, hold for short periods, or if trading is your primary income source. Professional traders pay income tax on all gains. There is no fixed rule on what triggers reclassification — authorities look at frequency, volume, and financing method.

This is general information only, not professional tax advice. Consult a qualified tax professional for your specific situation.