Interactive Brokers: reports for tax declaration

Thanks for the confirmation. I also just checked DEGIRO and nothing there yet either…

Thanks a lot SF indeed what I was looking for :+1:t2:

Now, I have also two other follow-up questions…

For the dividends (I don’t have any accumulating / reinvesting dividends) is there an option to choose to have the dividends deposited directly to my personal bank account (and not to IBKR account)? Because somehow I cannot really understand / realise them when they are credited in my IBKR account (disclaimer here my dividends are very low in the range of 200-300 per year so very minor impact in my portfolio …)

Also the withholding tax is directly deducted from IBKR or am I getting the gross dividend and I am paying the withholding tax with my tax returns?

Also as a rule of thumb I understand that ordinary dividends are taxed at 35% in Switzerland but is this true also for stocks from Frankfurt / Paris / Nyse for instance? Is there a way to check how much would be the withholding dividend tax from IBKR for a share before buying it?

:pray:t2:

1 Like

Hi,

All dividends will be taxed at the same rate whatever are the country of the company.
You can simulate the tax impact on the tax software (e.g. GeTax, VdTax …).

1 Like

Not to my knowledge. You can - as I have - a standing order for withdrawals - but it won’t take into account the fluctuation of dividends (dividends change).

The very reason and purpose of withholding taxes is that you can’t escape them - cause they’re deducted before you receive distributions. You pay, with your tax return, taxes on the gross dividend - and double taxation agreements are (often) in place to make sure that you don’t pay twice. But they’re usually on the basis of retroactive refunds.

This is only the withholding tax rate for Swiss securities - not the effective tax rate you have to pay.

In Switzerland you effectively pay your personal income tax rate on dividends (contrary to some other countries that tax dividends at preferred rates).

2 Likes

Just for my understanding withholding tax rate is 35% for Swiss securities, but I could declare the withholding dividend tax payment to my tax declaration - get it refunded - and be taxed then for the dividends gain as an income tax, at my overall income tax rate?

Or if it’s not effectively 35% how much is the tax I am paying? Is there a simple way to calculate my net profit from the dividends?

Yes, that is how it works (WRT to the 1st paragraph).

1 Like

Dividends = income
Thus add them to your (net taxable) income and there’s your estimated tax rate.

2 Likes

It will be available on February 15.

5 Likes

I asked them when it will be available and they said at the end of March. :face_with_raised_eyebrow:

Edit:

Dividend report is now available on IB. But only as HTML or csv. You have to convert it if you need it as pdf.

1 Like

You should add the “payment in lieu of dividends” if you enable the SYEP .

2 Likes

Is “payment in lieu of dividends” accepted in your tax declaration?
Do you declare them as dividends and can you get the retained taxes back?
I thought tax authorities didn’t allow reclaims against these.

In my IBKR there are not all the dividends in the dividends section when enabled the SYEP. It is not to get taxes back, but it is to declare somehow the dividends.

Exactly: there are dividends and then there are “payments in lieu of dividends” (which are NOT dividends).
You probably need to declare the payments as revenue, but the tax authorities will not let you reclaim withholding taxes on those payments.
See Substitute Payment in Lieu of Dividends - Tax Professionals Member Article By Larry Hurt for more details.

2 Likes

I see two different fields called “Dividends” when I create custom template. One includes "payments in lieu of dividends”, another doesn’t.

1 Like

Good point @SwissDan and @Dr.PI !

The two sections have the same name “Dividends” in the generated report

So remember to select the “Combined Dividends” and ignore the “Dividends”, as shown in the picture

1 Like

Included with other info, you can find it also in PDF

The first file is there (and it’s the one I usually use for taxes)

2 Likes

I have mostly the same. Just no Bond Interest as I don‘t have bonds and I include the Trades.

Without trades there is no way to know how many ETFs you had at each dividend payout?

1 Like

Do you mean the number of shares?

I have also another question :slight_smile:
Since IB is withholding Taxes for CHSPI, does that mean that I need to request back also those with the DA-1?

1 Like

No, that’s Swiss withholding taxes (Verrechnungssteuer), for which you’ll get a credit with the regular ‘Wertschriftenverzeichnis’. DA-1 is only for foreign withholding taxes. The domicile of the broker doesn’t matter.

2 Likes