Online FAQ on the VZ e-tax statement

According to the Swiss Tax Conference (STC), from 2023 onwards the e-tax statement will be accepted in all cantons.

The e-tax statement lists your bank relationships. All account and custody account relationships that belong to the same client base are reported on a consolidated basis. If you have several client relationships with us (e.g. together with a partner), you will receive separate e-tax statements for them.

Pension assets are not reported in the e-tax statement. Any payments into the third pillar or purchases of additional pension fund benefits are reported separately. Mortgage relationships are also not reported in the e-tax statement.

You can download the e-tax statement in your VZ Financial Portal from the VZ Safe and then import it into your tax software. The asset information (list of securities) is automatically read out. The imported values must now undergo a final check and be completed with any debit interests or deductible asset management costs.

Despite the postal dispatch of the documents, the electronic version of the VZ tax statement is available in your VZ Financial Portal. Cannot find the VZ tax statement or do not have a VZ Financial Portal? Contact your consultant or call the bank support service at 058 411 88 88. 

You can of course use the same channels to request the VZ tax statement in paper form, should you not have received but wish to possess one.

The e-tax statement can be found in the VZ Safe in the "Taxes" folder.

You can import these data to your tax programme with just a few clicks and transmit them in electronic form to the tax authorities.

If you have access to the VZ Financial Portal, you will find your e-tax statement in the VZ Safe in the "Taxes" folder. Save it on your computer and upload it to your tax return programme. This will transfer the tax values from your list of securities directly to your electronic tax return.

If you do not wish to use this function, you can enter the tax value as well as the A and B values manually and enclose the tax statement with your tax return.

Each canton has its own regulations on the amount you can deduct for the management of your assets. The enclosed letter with the fee schedule shows you what amount you can deduct for the management of your assets. Your tax authority decides on the effective amount of the allowable deduction.

Any debit interests can be found in the summary of your tax statement. 

From 2023 onwards, all cantons will take the same valuation rates into account in their tax statements. 

Securities are subject to wealth tax. The Federal Tax Administration publishes the tax values of all securities traded in Switzerland (www.estv.admin.ch). The asset value corresponds to the closing price at the end of the year. If the company is not listed on the stock exchange, the tax administration will inform the Board of Directors of the equities’ tax value. The Board of Directors can report this value to the owners. The asset value corresponds to the closing price at the end of the year. When completing your tax return, please note the corresponding comments in the current guidelines of your canton.

Not all income may be known at the time the tax statements are prepared. The Federal Tax Administration publishes the missing income in its rate list on a regular basis (www.estv.admin.ch). You can search for the values before submitting your tax return and add them or have the tax authority fill them in. 

Real estate funds with direct property ownership may be declared by taxable investors with a reduced wealth tax value, as the fund companies tax the value of the properties directly in the respective canton. In some instances, the tax-relevant rate is published only in February. If this is the case, the end-of-year value is entered in the tax statement in order to provide you with the documents as quickly as possible.

Due to the quarterly payout of account interests, withholding tax must already be deducted from smaller amounts as a precautionary measure. The withholding tax will be refunded to you if you declare it properly in your tax return.

Capital income such as interests and dividends are subject to income tax. In the case of domestic securities, 35 percent of the capital income were automatically deducted on distribution. By declaring this income in the tax return, you reclaim the withholding tax. You will find the distributed gross income on page 1 of your tax statement under "Values with withholding tax deduction".

So-called accumulating investment funds reinvest interests and dividends directly without distributing. This capital income also counts as taxable income and may be subject to withholding tax. If the accumulating income amounts are not known when the tax statement is created, they will be offset by the tax authority in the assessment procedure.

Other countries also levy taxes on capital income, which they subtract directly from the income. Countries which have a double taxation agreement with Switzerland reimburse all or part of the withholding tax upon request. Claims for reimbursement can be made in the source country. The necessary forms are published on the website of the Federal Tax Administration (www.estv.admin.ch). Your tax statement lists the possible reclaims by country. Please note that fees may apply for reclaims.

If you have been credited with income from securities from countries with which Switzerland has concluded a double taxation agreement and whose withholding tax cannot be reclaimed in full, the non-reclaimable withholding tax in Switzerland is generally credited as a lump sum. The corresponding values for form DA-1 ("Application for lump-sum tax credit/US tax retention") can be found on the "Collective statement for application with crediting of foreign withholding tax according to DTA" of your tax statement.