I am new to the forum and I want to understand what is happening with stocks and taxes.
I live in canton Geneva and I have a permit B. Last year for 2022, it was my first time filling a tax form I gave to an accountant.
I have non Swiss stocks through a non Swiss broker (no degiro or IBKR) which pay also dividends, they stay inside the account I have with the broker besides I decide to buy more stocks. Furthermore the dividends come post-tax to my account.
I gave to the accountant the file from the broker on 31.12 and he declared that account as compte bancaire with writing compte d’invest.
Is this a correct way to declare it?
If not can someone guide me through how it should be done with getax and what needs to be declared.
I have read also the manual but it is not totally clear to me.
This is presumably just the withholding tax of the country of domicile of those stocks. You need to pay Swiss taxes on these dividends in any case (although depending on the country, you may get a tax credit via DA-1 to compensate for the withholding taxes), so it’s not really post tax.
I assume that line in the declaration is the only one with regards to that broker account, i.e., there aren’t additional lines in the declaration for the individual stocks you hold there.
In that case, it certainly doesn’t seem completely correct, however, if the declared tax value is the sum of cash and all stocks at that broker and the sum of gross dividends of all stocks are declared as income on the same line, the totals would be correct. You have to attach the broker statement to the tax declaration but the only mistake would be that it’s categorized as bank account instead of depot or similar (I don’t know what categories are available in GE), and that doesn’t really affect anything.
However, if the dividends were not declared at all, that would be an incomplete tax declaration.
The official, certainly correct way is to declare each stock separately (and only the cash part of the broker as a bank account). Maybe this helps you: Filing Taxes in Geneva - a couple of questions
This is presumably just the withholding tax of the country of domicile of those stocks. You need to pay Swiss taxes on these dividends in any case (although depending on the country, you may get a tax credit via DA-1 to compensate for the withholding taxes), so it’s not really post tax.
I say post tax because in my home country when a company gives a dividend, it will go into my broker’s account but the broker has already kept the tax. Of course, they are included in the tax declaration of this year but I have no extra tax from them and this is the reason I wrote post-tax.
I assume that line in the declaration is the only one with regards to that broker account, i.e., there aren’t additional lines in the declaration for the individual stocks you hold there.
Actually, I get a statement each month which covers my total position and analytic position
X Stock - Shares - Buy Price - Current Price
and also includes the monthly transactions being made.
So the report at the end of the year it has the prices of stocks at 31.12 and my total position
In that case, it certainly doesn’t seem completely correct, however, if the declared tax value is the sum of cash and all stocks at that broker and the sum of gross dividends of all stocks are declared as income on the same line, the totals would be correct. You have to attach the broker statement to the tax declaration but the only mistake would be that it’s categorized as bank account instead of depot or similar (I don’t know what categories are available in GE), and that doesn’t really affect anything.
Yes the total assets plus the dividends make my total position. Of course I can withdraw money from selling or dividends but they would end up in another account which I already declare in Switzerland
So I have to email my accountant and file a correction.
Also there are some of my stocks that cannot be found in ICTax this is weird.
I attached the broker full position and also an Excel spreadsheet (converted in pdf) in order to calculate the total amount of dividend converted in CHF. For US stock, I also calculate the With holding tax to get it back.
I’ve done it for 3 years and I had no negative feedbacl.
It’s quite easy to do in GeTax software when you’ve done it few times.
Now for the fortune I convert EUR to CHF with EUR 1 = 0.929700 CHF as it is stated in ICTax for 2023 and I put this amount in Valeur imposable au 31 Decembre…
So in my case, since they are stocks(and not ETFs) I need to declare them as: ACT : Action ou part sociale , which I understand as share. So I can declare all my shares like that independent of if they give dividend or not. As far as I see you tick DA-1, you pick the country and you put the percentage.
I am in the same situation and doing this for the first time.
Since some brokers provide annual statements, instead of declaring each line with all the underlying transactions (which is an overkill) I am thinking to declare the total value of my portfolio and the sum of dividends (these 2 numbers are provided by my broker) to the “other wealth category” that lets you put summary values (eg for art etc).
Yes I have changed it to submit one line by broker.
I declare the dividend total with the tax document generated on my broker for European stocks.
I still declare US etf individually with the number of transactions in the previous year as highlighted by the transaction documents.
I haven’t found a better solution to make one broker declaration mixing us etf/dividend and non us etf/dividends. As far as I know I can only declare 15% wht on the dividend total.
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