Tax glossary
Final tax invoice
The final tax invoice is the definitive tax bill issued after your assessment: it calculates the tax you actually owe and offsets it against the payments and interest already booked.
In the Canton of Zurich you first pay your taxes on the basis of a provisional invoice. It is based on your last tax return or an estimate. Only once the tax office has reviewed your return and issued the assessment notice is the definitive amount known. The final tax invoice (Schlussrechnung) is the document that calculates this definitive amount and matches it against everything you have already paid.
The result is either a balance to pay or a credit. A credit is refunded to you or, if you prefer, carried over to the next tax year. A balance must be paid within 30 days. The invoice also contains an interest statement: advance payments earn interest in your favour, late payments cost you interest.
For cantonal and municipal taxes, the final invoice in Winterthur is issued by the city's tax office. The direct federal tax is billed separately, with its own due dates and interest rates. So you will normally receive two final invoices per tax year — one cantonal and one federal.
How the final invoice is structured
At first sight the invoice looks like a wall of numbers, but it always follows the same structure.
- Taxable income and assets as per the assessment notice
- The basic cantonal tax, multiplied by the canton, municipality and church tax multipliers
- Poll tax (Personalsteuer)
- All payments made so far, with value dates
- Credit interest on advance payments, compensatory interest on the definitive amount
- Balance: amount due or refund
How Zurich charges interest
Zurich applies interest consistently in both directions. The key date for cantonal and municipal taxes is 30 September of the tax year. Payments made before 1 October earn interest in your favour until the final invoice (Vergütungszins). Conversely, interest is charged on the definitive tax amount from 1 October (Ausgleichszins). Paying early therefore pays off; paying late costs money.
The rate for both is set every year; it was 1% in calendar year 2025 and is 0.75% for 2026. If the final invoice is not paid within 30 days, late-payment interest of 4.5% is added.
- Pay before 1 October: interest credited to you
- From 1 October: compensatory interest on the definitive amount
- After the payment deadline of the final invoice: late-payment interest
Checking and challenging the invoice
The final invoice simply implements what the assessment notice says. If you disagree with your taxable income or assets, you must lodge an objection against the assessment notice within 30 days — not against the invoice. You can only challenge the invoice itself if there is an error in the calculation, such as a payment that has not been booked.
If you cannot pay a large balance in one go, ask the municipal tax office for an instalment plan or a deferral. Interest still runs, but you avoid reminders and debt collection.
Example: A balance to pay after a pay rise
A project manager in Winterthur-Oberwinterthur receives a provisional invoice of CHF 9,600 for her 2025 cantonal and municipal taxes and pays it in full on 15 June 2025. Because of a pay rise and a bonus, the tax office later sets her definitive tax at CHF 10,400.
The final invoice shows CHF 10,400 owed and CHF 9,600 paid, leaving CHF 800 outstanding. She earns credit interest on her June payment, and compensatory interest is charged on the definitive amount from 1 October. Because she paid early, the two largely cancel out, and she transfers around CHF 780 to CHF 800 within 30 days. Had she voluntarily increased her advance payment after the pay rise, that amount would also have earned interest before the key date.
Frequently asked questions: Final tax invoice
Why did I receive two final invoices?
Cantonal and municipal taxes and the direct federal tax are billed separately. Both are based on the same tax return but have their own rates, due dates and interest rules.
Can I object to the final invoice?
Only to calculation errors in the invoice itself. Objections to your taxable income or assets must be directed at the assessment notice, where the 30-day objection period applies.
What happens to a credit balance?
It is refunded to you with credit interest. You can also leave it with the tax office and have it offset against the next provisional invoice.
How can I avoid a large balance to pay?
Adjust your advance payments as soon as your income or assets change significantly, and pay before 1 October if you can. That way interest works for you rather than against you.
Questions about this term?
We prepare your tax return — including the tricky parts.
You don’t need to master the jargon. Send us your documents; we check every deduction and file electronically on your behalf.