IMPORTANT: Scannable Swiss Tax report feature at IBKR - Submit your Vote!

Hi guys!

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 :smiley: ) 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

11 Likes

done. think that would be great help

6 Likes

would need another 18 votes to make it the most requested feature. let’s go guys

2 Likes

Could we have this pinned for a week or two? @moderators I really think that we have the power to do this!

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Which cantons are compatible with that e-tax report?

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https://esteuer.ewv-ete.ch/de/esteuerauszug

To my understanding, this basically means that this should be a nationally accepted format. Maybe some cantons are behind in implementing this, but it would be great!

just accidentally clicked on the thumps up again which basically undid my “like”. so make sure it’s highlighted in blue then your “like” actually gets counted

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When I try to “Create a Voter ID” (enter a screen name, screen password + my existing account username and password) I end up with a “Challenge Code” field where I’m asked to enter a Passcode.

The “Help” shortcut below redirects to Secure Login with Digital Security Card+ | IB Knowledge Base which explains how to securely log in with “Digital Security Card+”. I don’t have a DSC+.

Is anyone else experiencing this? What am I missing?

Am I simply too poor to vote on features (since DSC+ is only issued for accounts of USD 1M+).

That is what you generate with IBKR mobile I guess.

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Ahh yes I found it.

I never used the IBKR app “IB Key” 2FA tool (under More) to manually create a response code from a challenge code.

Thanks!

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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).

They do for the USA and maybe they will in the future, if demand is high enough.

6 more…

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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.).

Does any of these countries already have electronic statements?

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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).

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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.

Inside the EU, there are cheaper providers, especially for ETF savers.

UCITS ETFs also have a tax advantage in most EU countries. In Germany f. e. you only get taxed on 70% of the capital gains and dividends, not 100% iirc. With US-ETFs you’d pay the tax on 100%.

So TradeRepublic or ScalableCapital are better choices for EU Citizens.

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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.

2 Likes