Degiro Tax Declaration

Taxes
1

Hi All,

Happy to join the forum.

I have a doubt on the tax declaration of a degiro account (I have already older posts but I could not find an answer).

Degiro provides a tax statement where they mention that the cash account is separate from the investment account. Now, on my tax declaration I guess I need to add both? If that is the case, I believe the cash account statement is pretty straightforward, but for the investment account how should that be declared? As a securities account or under the DA-1 List of securities?

For additional info, I did not sell any shares and I only have very few dividends.

I hope to get some more clarity from experienced users :slight_smile:

Thanks a lot!

2

If your shares / ETFs are domiciled in Ireland or Switzerland then you don’t need to declare them in DA-1. you need to declare them in normal section for securities.

In DA-1 section, you need to declare the shares where the dividend is paid and withholding tax was deducted on dividends/income by the „foreign institutions“. For example if you have US stocks which pay dividends and you had some WHT deducted.

Since Degiro doesn’t offer US domiciled ETFs, it’s out of scope anyways for this discussion.

The document needed are following (mainly as proof of ownership and withholding tax deduction)

  • document showing your year end balance of securities
  • document showing income (interest or dividend) generated during the financial year.

For declaration specifically - You can either declare each security or you need to provide summarised information for the whole account. Make sure if you have accumulating ETfs then you calculate the „deemed income“ manually or using ICtax.

3

Thanks a lot for the clarification, that makes it easier.

4

You are welcome.
Just pay attention if you have accumulating ETFs because they need to be mentioning specifically

5

What do you mean? I have as a matter of fact Acc ETF. :slight_smile:

6

When you have accumulating ETfs then yearly income report from brokers will not have dividends mentioned. This means that you will report your income inaccurately if you simply use Degiro annual report for dividends and income.

Swiss authorities want you to do this calculation yourself and you can use ICTAx for it.

If do not have too many stocks, I think you can simply list each security individually and then tax software should be able to calculate the income automatically. This is how it works in canton Zurich. You just need to mention following

  • ISIN
  • Number of shares at beginning of year
  • Transactions made during the year (buy / sell)

If you have a lot of stocks. Then the only way would be to ge the correct number for income

  • use Degiro annual report for rest of securities
  • For accumulative ETFs, calculate manually using ICTAX
1 Like
7

To understand better your situation, it would be good if you can list which securities you have (unless there are 20+), or at least their type: domicile and accumulating/distributing.

8

So for each purchase I made of an Accumulating ETFs I should use ICTax to calculate the gross return and then add then into the Yield section of the same ETFs declaration, is that correct?

It was indeed auto calculated for somes - but the values are different from those that I get in ICTax.

@Dr.PI I have the following Acc ETF:

  • LU1681048630
  • IE00BMX0DF60
  • IE00BJXRZJ40
  • IE00BYXG2H39

Thank you both for the feedback

9

Add them all to “Securities” section of the tax declaration. This is where you put each fund or stock one by one. NOT to DA-1.

  • Value by the end of the year: as per ictax and number of holdings at the end of the year.
  • Income: deemed distribution per share multiplied by the number of holdings at the date of deemed distribution as per ictax.

On the fund’s page at ictax, there is a form that calculates these values for you when you put the respective number of holdings.

Some tax software calculate these values automatically when you put initial amount and all transactions of the units.

You can and probably even should add to the same place all other distributing securities with LU and IE domicile, i.e. without withholding taxes.

P.S. This all is independent of an actual broker. You should keep statements about transactions and holdings, but most probably don’t have to submit it.

1 Like
10

FWIW, in some (many?) cantons, the website will compute everything for you once you add your transaction/holdings.

11

Thank you very much, that was really helpful.
I have two more (probably silly questions):

  1. I had a position on Clovis which was delisted. How should I go about that? as I tried to add it but the software doesn’t even find it. As that was closed at a loss, should I report it for tax benefit?
  2. For Revolut account, should this be declared with the “State” option as CH or UK? As revolut is based in UK but my IBAN is CH.

Thanks