In Switzerland, casino winnings are subject to taxation. Here's what you need to know based on search results:
Declaration of Income: Casino winnings must be declared as income on tax returns.
Varied Tax Rates: The tax rate on casino winnings varies depending on the canton (state) where the player resides.
Tax-Free Threshold: The tax-free threshold for casino winnings also varies depending on the player's canton of residence.
Taxation Over CHF 1 Million: Generally, casino winnings exceeding CHF 1 million are subject to taxation in Switzerland.
It's crucial to understand that the provided information is general and may differ based on individual circumstances. To navigate the specific taxation of their casino winnings in Switzerland, players are strongly advised to seek guidance from a qualified tax professional.
In summary, casino winnings in Switzerland are indeed subject to taxation, and players should be well-informed about the tax regulations within their specific canton.