I’d really like to share the IBKR feature request of SwissInv. He suggested adding the Swiss E-tax report (E-Steuerauszug) into IBKR. 7 people have already given this a thumbs up. Given that a lot of us use IBKR, we could actually swing this voting into our favor (imagine 50+ votes or so).
To get there you first need to go to the “Help” menu and then to “New Feature Poll” then you need to create a separate login (makes sense imho, don’t want to share your IB user id with the world ) and then you just vote. You can also leave a comment (I accidentally spammed the same one 5 times or so, because apparently that’s what happens when you have bad connection).
For those who don’t know what a E-Steuerauszug is: This would basically make you input all shares, dividends, WHT (DA-1, no R-US in case of IB, but that could be done as well) just by scanning the pdf IBKR would give you, with your tax software. I already did this with my old bank accounts, worked like a charm!
So idk, if we can pin or promote this a bit, maybe with Mr.MP and a blog post. Would be really cool and the feature poll feature isn’t that overrun, so we have good chances imho.
EDIT: In order to find the feature, just search for “Swiss” or try using this link: Client Portal
While I’d still upvote, I’d guess that the odds of getting it are really slim (they don’t provide any tax document in country specific output, and I’m sure they’d have a lot more impact implementing it for France, Germany or UK first at least based on number of users if it follows population just a bit).
Yes, that’s what I’m saying, they currently only produce document for their “home” market (USA). If they start doing i18n/l10n, it’s most likely they’ll start with the biggest countries (which I assume for retail is UK, FR, DE, etc.).
Not sure, but at least some of those have specific requirement for reporting, that makes it a massive pain when the broker doesn’t provide the right format.
While Switzerland is very chill about that, so the impact on the customer base would be much larger (for instance in France, not having the tax reporting available is a large deterrent for retail clients, and given how much cheaper they are compared to competition, that would remove a massive barrier to adoption).
On the other hand, with electronic reports, all that is really needed is the positions and transactions. All the rest is calculated or recalculated by the tax office. With no capital gain tax, there is no cost basis needed.
And providing positions (with ISIN) and transactions is not very tied to any country.
Yes, that was also my thought. For an EU investor, IBKR IE/LU/HU doesn’t provide access to US ETFs, has no margin loans, and is more expensive than “zero fees” provider. No reason to go for a US based broker instead of one from EU or just your home country, especially Germany. Currency exchange is still cheap with IBKR, but if you live in Eurozone, how often do you need it?
My guess is that UK is the second single country by the number of IBKR customers.