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Old 15.01.2007, 16:49
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Mutual Fund Distributions Taxable?

Hi All,

Are mutual fund distributions taxed in Switzerland - ie 35% witholding tax?

If so - do non-distributing funds avoid such tax, or do you still need to pay the tax as though you received the distribution (like in the US)?

Andrew
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Old 17.01.2007, 11:09
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Re: Mutual Fund Distributions Taxable?

Quote:
Hi All,

Are mutual fund distributions taxed in Switzerland - ie 35% witholding tax?

If so - do non-distributing funds avoid such tax, or do you still need to pay the tax as though you received the distribution (like in the US)?

Andrew
Well it depends if the fund is domiciled or not in Switzerland. Lux domiciled fund distributions might be impacted by withholding (EU taxation) if you are an EU citizen (with the exception of UCITS II funds).
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Old 18.01.2007, 08:04
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Re: Mutual Fund Distributions Taxable?

I just looked back into my old bank records and found that no tax was withheld from a distribution, the fund is a Lux. one...But surely that means I owe tax on the money as income - but I am Quellensteuer. I won't bring it up with them...

A
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Old 18.01.2007, 09:53
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Re: Mutual Fund Distributions Taxable?

Quote:
I just looked back into my old bank records and found that no tax was withheld from a distribution, the fund is a Lux. one...But surely that means I owe tax on the money as income - but I am Quellensteuer. I won't bring it up with them...

A
Correct. Until the new legislation came in force there was no deduction on Lux domiciled fund for EU-national and domiciled citizen. In your case, assuming you are domiciled in Switzerland, there will be no withholding however you are supposed to declare dividends as income.

Safest is sticking to accumulating funds.
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