- You declare the value of your securities on 31 December and your dividends; not your capital gains.
- The 35% withholding tax on your Swiss dividends is only refunded if you declare your securities.
- Swiss bank: a tax statement does most of the work. Foreign broker: you fill it in yourself, with the FTA price list.
What you declare, and what you do not
Only two things: the value of your securities on 31 December, for wealth tax, and their income, as income. Gains made when selling are not taxed for a private investor.
| Item | Where it goes |
|---|---|
| Value of securities on 31 December | Wealth |
| Dividends and interest received | Income |
| Income reinvested by an accumulating ETF | Income, as if it had been paid out |
| Gain on a sale | Nothing to declare as income |
| Pillar 3a | Not part of wealth; only contributions are deducted |
1. Gather your statements
A Swiss bank generally sends you a tax statement early in the year; a foreign broker generally does not. The tax statement lists each security with its tax value and income: you only have to copy it over. More and more banks also provide it electronically, ready to import into your canton's tax software.
2. Fill in the securities list
One line per security: name, ISIN number, quantity on 31 December, tax value and income for the year. The tax value is the one in the FTA's price list (ICTax), which covers most shares and ETFs. Foreign currency accounts are converted at the year-end rate published by the FTA.
It pays you nothing, but its reinvested dividends are taxable. The amount per unit is in the FTA list: multiply it by your number of units, and declare it as income.
3. Recover the withholding tax
On every Swiss dividend, 35% is withheld at source; you get it back, or it is deducted from your taxes, if you declare the security and its dividend. You just enter them in the column provided in the securities list. On 3'000 francs of Swiss dividends, that is more than 1'000 francs coming back, provided you forget nothing.
4. Foreign dividends and form DA-1
On foreign dividends, the tax withheld abroad can only be partly recovered, with form DA-1 attached to your return. For US shares, the withholding is generally 15%. The credit is only granted from 100 francs of foreign tax in the year, and some cantons ask for a supplementary sheet for US securities. With an ETF domiciled in Ireland, that withholding is taken inside the fund and cannot be recovered: nothing to fill in.
5. Foreign brokers, crypto and other cases
- Foreign broker: copy each position from the broker's annual statement, and take the value from the FTA list. Keep the dividend statements as supporting documents.
- Crypto: declared as wealth, at the year-end rate published by the FTA for the main ones.
- Accounts abroad, including those left in your home country: declared like the others. It is also what the automatic exchange of information will show.
Going further
Taxed at source? Withholding on your salary does not cover your investments. Depending on the amounts and your canton, they may oblige you to file a full tax return: see the B permit guide.
Custody fees are often deductible. In many cantons, the custody fees on your securities can be deducted, within certain limits: check the relevant section of your return.
Keep a record of your trades. Capital gains are not taxed, but a history of your purchases and sales helps if the tax office asks questions, for example about your private investor status: see the professional securities dealer.
And your deductions?The 3a is deducted on top of everything else: see what it gives you back.
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Frequently asked questions
Do I have to declare stock market gains?
No, for a private investor: capital gains are not taxed. You do, however, declare the value of your securities on 31 December, for wealth tax, and your dividends and interest, as income.
How do I recover the 35% withholding tax?
By declaring your Swiss securities and their dividends in the securities list of your tax return. The withholding tax is then refunded or deducted from your taxes. Without a declaration, it is lost.
Where do I find the tax value of my securities?
In the FTA's price list (ICTax), which gives the value on 31 December and the taxable income of most securities, ETFs included. Your bank generally uses these values in its tax statement.
My broker is abroad: what do I do?
You declare each security yourself: name, ISIN, quantity on 31 December, value from the FTA list and dividends received. Foreign brokers generally do not provide a Swiss tax statement.
I am taxed at source: do I need to do this?
If you file a full tax return (subsequent ordinary assessment), yes, the same way. If you do not, check with your canton: investment income and wealth are not covered by the withholding on your salary, and above certain amounts they make a full return compulsory.
And US dividends?
The United States generally withholds 15%. With form DA-1 attached to your return, part of that tax can be credited against your Swiss taxes, from 100 francs of foreign tax in the year.
Sources: DBG / LIFD art. 16 para. 3, art. 20 (income from movable assets) ; VStG / LIA (withholding tax) and its ordinance ; FTA, ICTax price list ; form DA-1 (credit for foreign withholding taxes) and cantonal supplementary sheets ; cantonal tax administrations, instructions for the tax return.