In Switzerland, you have to pay wealth taxes and income taxes on your investment. While you have to pay wealth taxes on your whole account, you only have to pay income taxes on dividends. You can watch the video or read the article below in order to see step by step how to declare your Yova portfolio when filling your tax declaration.
1. Download your Yova report
This article shows you where to find the report. It is important for you to know that the second page contains all the information you need. Here you can find more information about the other pages of the report. Additionally, you only need to fill in the grouped values of your Yova deposit and not the values of every single stock.
2. Check number one: DA-1 to avoid double taxation
Head to the second page of the tax report you just downloaded. Some countries claim withholding tax on dividends when they are paid out. In order to avoid double taxation, you can claim credit for these foreign withholding taxes (DA-1). With the DA-1 form you can inform the Swiss authorities that taxes were already paid on the relevant foreign stocks. This way they will not tax you a second time. Since it avoids double taxation, filling out the DA-1 form is often recommended. Find more information about DA-1 here.
3. Check number two: Can you use eTax or not?
eTax allows you to simply upload your Yova tax report in order to declare your deposit. However, this is not possible in every Swiss canton. In the following image you can see in green which cantons have eTax enabled.
3.a You can use eTax
Go to the “Wertschriften” section of your tax declaration. If your canton has eTax enabled, you can simply upload the Yova tax report as part of your eTax declaration. Be aware that only the cantons in green allow this option. After you have imported the Yova tax report, you will be asked if you want the corresponding values to be taken over into the DA-1 form.
3.b You cannot use eTax
As your tax declaration might be in German or French, here are the titles you will be looking for. Please be aware that the wording might differ from canton to canton.
- Securities list: ‘Wertschriftenverzeichnis’ or ‘état des titres’
- DA-1 securities list: ‘DA-1 Wertschriftenverzeichnis’ or ‘DA-1 état des titres’
- Deposit/Tax directory: ‘Dépôt/Steuerverzeichnis’ or ‘dépôt/répertoire fiscal’
Go to the ‘Securities’ section of your tax declaration. First enter your account information. You can find your IBAN on the third page, and the account number on the upper left part of the fourth page. If you have kids accounts, your tax report is aggregated for all accounts, you only need to declare the IBAN and account number of the main account.
On the second page of your Yova tax declaration you will see three lines. Use the first two lines (in grey) if you plan on declaring your DA-1 taxes. Use only the third line (in white) if you are not planning on claiming your DA-1 taxes. Below you can see where to insert the values of each line into your tax declaration:
- The first line can be inserted into your “securities list” in the category “Deposit/Tax directory”.
- The second line can be inserted into the “DA-1 securities list” in the category “Deposit/Tax directory”.
- Only if you are not planning on claiming your DA1 taxes back: the last line can be inserted into your “securities list” under the category “Deposit/Tax directory”. This is the only value you have to insert if you are not using the DA-1 form.
You are finished with declaring your Yova portfolio!