Solutions

Financial Services Tax

Deloitte's Swiss tax specialists for the financial services industry provide comprehensive, integrated solutions to the banking, insurance and investment management sectors. Our tax expertise and industry knowledge allows us to understand each client's unique business needs.

Our services

Tax Advisory Services

Staying tax compliant and properly managing tax risks is a key factor for success. Given the complexity of tax questions in the financial services industry, you expect from your tax advisor, besides tax technical skills, a deep understanding of the business and the operational processes.
Our tax advisory services include:

  • Group tax level: Ensuring tax compliance and a tax efficient corporate structure, providing advice and support on domestic, international, transfer pricing and indirect tax considerations across the full lifecycle of the tax landscape. The breadth of our services spans from business as usual to the implications arising from changes in products and offerings, delivery model and systems, and restructuring.
  • Operational taxes/back-office level: Advising on withholding, stamp tax, and other transactional tax matters.

Swiss Fund Tax Reporting

To enable favourable taxation for Swiss private investors of investment funds, the funds must annually calculate and report the respective income figures based on Swiss tax rules.

Deloitte can fulfil these obligations for investment funds, ensuring a timely and accurate Swiss fund tax reporting that is in line with current Swiss tax law and practice.

Client Tax Reports from Banks

In an international environment with an increasing focus on tax compliance, more and more clients are expecting from their banks to receive country specific client tax reports. By including additional information on applicable withholding tax rates on investment income in their client tax reports, banks can provide added value to their customers by giving them the necessary information to claim a reduction of withholding taxes on investment income and/or a tax credit for non-recoverable foreign taxes paid.

Deloitte offers through a subscription service standardised withholding tax tables, which are annually updated and include the non-recoverable withholding tax rates on investment income under double tax treaties concluded by a variety of jurisdictions.

The withholding tax tables for the chosen customer domicile countries are in Pdf, Excel and XML format as per leading client tax reporting software specifications.

Deloitte also offers a full outsourcing solution for their client tax reporting as well as advisory services supporting implementation and operation of an in-house solution.

Withholding Tax Refunds

For foreign funds

Dividend and interest payments on Swiss securities are typically subject to 35% Swiss withholding tax, which the issuer of the security deducts. The investor may reclaim such withholding tax might under on a double tax treaty. Deloitte has extensive experience in successfully reclaiming Swiss withholding tax deducted on Swiss investment income.

For U.S. Investment Funds

Deloitte has extensive experience in assisting U.S. investment entities in successfully reclaiming Swiss withholding tax deducted on Swiss investment income and offers a complete outsourcing solution for Swiss withholding tax reclaims on behalf of U.S. investors.

For Swiss Investment Funds

Swiss investment funds may be entitled to a refund of discriminatory withholding taxes deducted on dividend payments from European stocks. Such refunds are based on EU law and are in addition to the withholding tax refunds potentially available under a double tax treaty.

Deloitte assists with the streamlining of the data collection, documentation and filing process leveraging our global network of subject matter experts and their established contacts with the respective tax authorities.

Over the past few years, Deloitte has successfully supported a number of Swiss investment funds in their reclaims while helping them reclaim significant amounts.

Key contacts

Ilan Rom

Ilan Rom

Partner, Financial Services Tax & Legal

Ilan Rom is the head of Deloitte’s Financial Services Insurance Tax practice in Switzerland, he is also leading the sustainability client offering for T&L, FSI and is a Tax Partner with 20 years of ex... More

Petrit Ismajli

Petrit Ismajli

Partner, Financial Services Tax & Legal

Petrit is a Partner and co-leads the Financial Services Tax practice in Switzerland. He has more than 15 years of experience in FSI Tax and international corporate tax matters. Petrit joined Deloitte ... More

Brandi Caruso

Brandi Caruso

Tax Accounting

Brandi heads Deloitte’s Tax Accounting team in Switzerland. She is responsible for clients across a range of industries with significant operations globally, including teams, project deliverables, rel... More

Karim Schubiger

Karim Schubiger

Head of Tax Technology Switzerland

Karim heads the Swiss Tax Technology Consulting practice, supporting tax functions transformations in terms of operating model design, governance setup and digitalisation journey as well as tax engine... More