Is a car credit tax-deductible in Switzerland?

With private credit for consumer goods, such as car loans, you can deduct the interest you pay on the loan from your taxes, but not the loan payments themselves. This means you cannot deduct the full credit amount or the monthly payments, only the part that goes toward the interest.

You can deduct up to CHF 50,000 of interest on all your private loans, including your car loan, in a given year.

At the beginning of the year, you will receive a statement from your bank detailing the sum of interest you paid in the previous year so that you can add it to your taxes.