I am making this post to ask for your opinion but more, to show what can happen if you do not play correct the Tax Return game.
For the 2021 taxes I decided to take the same wrong shortcut as the year before: I declared all my Interactive Brokers funds as simple ‘dépôts de titre’ (this would be Deposits of securities), code 410 in the Vaud tax return application.
For the year before I did the same thing and it was just fine - I got some taxes back. I was happy, so yeah, why not again… Especially since Where can I find information about my taxes on Interactive Brokers? - Mustachian Post (aka Marc Pittet) #FIRE #frugalism was quite scary and also, my transactions for 2021 were not really few, and did not look like the transactions of an amateur due to their number and the short time between buy/sell.
The first sign of something funny was when they asked for extra documents - and this never happened. I generated a custom report on IB and sent it.
Now the answer came: my IB funds are seen as taxable income or something, and a rectification is made.
What would be the next step? I do have 30 days to contest it. I guess I need to declare all my investments correct, and since the capital gain is not taxable, I am off the hook…
Do your investments have a value of 210’621 CHF ? Looks like it is for the wealth tax only.
Did you receive 2055 EUR of dividend (or a mix of EUR and CHF for the same amount) ? (to be clear : The sentence doesn’t mean you need to pay 2221 CHF in taxes, but you need to pay taxes on 2221 CHF)
If both answers are yes, then you don’t need to do anything.
Just call the tax authorities for further details. They may be correct and it stops here or you can appeal against your taxation with proof (documents and calculations) showing the tax authorities are wrong.
However, your deadline is short. You shouldn’t have wait the end of the appeal period (30 days) to act
The issue is that you didn’t declare the dividends that you received.
Dividends accumulated by the ETF also count. Normally this is calculated automatically if you specify exactly what ETFs or stocks you own.
Also you don’t need to pay 2221 CHF as tax, you need to pay income taxes on an extra income of 2221 CHF.
I might have misunderstood, if so, just ignore my comment.
To be honest, I feel that not filling in the information that is requested is asking for trouble. It is required to specify the stocks and bonds you own on 31st of December and the transactions you made throughout the year, whether your transactions "look like the transactions of an amateur " or not. This way, they know the dividends and the coupons you received (that are added to your income) and your wealth.
Thanks for your opinions!
Sorry @Guillaume_GVA , it was a typo on my side. I did have 30 days by the time I wrote, so like 20 more.
Thanks @REandSTOCK for the french lesson! I need more… So I get it now, the sentence does not say that, but actually I do have a ‘Section paiement’ with a QR to pay, and for a different value: CHF1995.
So now I am a bit more confused. Is this payment Debit that I need to pay not related to the first issue ?
The amount you still have to pay is the difference between the taxes you already paid and the taxes you have to pay in total for the year. The amount you paid is not the total amount you would have paid if they didn’t discover the mistake. I am not a expert in impôt à la source, but I assume what they took is basically based on your salary as the only factor.
And if all cantons do it the same, it’s also based on the average rate for the communal tax, that can make a huge difference if you live somewhere with higher taxes.
Unless you find something specific in individual tax items, for me it looks like a perfectly normal correction of taxes when the final tax amount had turned higher than the original estimate. Doesn’t look like anything specific to investments.
Or rather it looks like they have added dividends to your income.