Yes, a tax is payable on both the advance withdrawal and the final withdrawal on retirement. Capital withdrawals are taxed separately from other income and assets at a reduced rate. The cantons have different ways of calculating capital withdrawal tax. If you transfer your residence abroad before you receive your vested benefits capital, a withholding tax is levied at the registered office of the foundation. The registered office of valuepension is located in the Canton of Schwyz. The canton of Schwyz has the lowest withholding tax in Switzerland. The tax on advance withdrawals for owner-occupied residential property is refunded on repurchase into the restricted pension plan.