On July 1, 2016 the Swiss Ministry of Finance issued a press release by which Switzerland announced that the amount of taxes it retained on behalf of the EU in 2015 amounted to CHF 169,3 million (was CHF 317 million in 2014 and CHF 510.1 million in 2013). At the same time it should be noted that in 2015 approximately 328,000 voluntary declarations to the tax authorities were received (was 150,000 in 2014).
In compliance with the agreement on the taxation of savings with the European Union (EU) in force since July 1, 2005, a system of tax retention of 20% was imposed from July 1, 2008 and the top rate of 35% has applied since July 1, 2011. 75% (CHF 127 million) of the proceeds are passed to the member states concerned. 25% (42,3 Million) of the proceeds go to the Confederation, with 10% (4.2 Million) passed on to the cantons.
In addition, the agreement makes provision for the recipients of interest payments to choose between the system of tax retention and a voluntary declaration to the tax authorities. Overall in 2015, approximately 328,000 declarations were received. In the press release issued by the Swiss Ministry of Finance it is announced that the breakdown of these declarations according to each EU country will be published soon on the website of the Federal Tax Administration (FTA) at: https://www.estv.admin.ch/estv/fr/home/internationalessteuerrecht/themen/eu-zinsbesteuerung/orientierungen.html
Based on the information provided by the Swiss Federal Department of Finance the top 5 of Individual EU Member States hat will receive a share of the taxes retained are:
|
|
2015 |
2014 |
|
1 |
Italy (CHF 52.2 Million) |
Italy (CHF 73.4 Million) |
|
2 |
Germany (CHF 20.3 Million) |
Germany (CHF 51.3 Million) |
|
3 |
France (CHF 12.4 Million) |
France (CHF 39.5 Million) |
|
4 |
United Kingdom (CHF 6.5 Million) |
Spain (CHF 10.9 Million) |
|
5 |
Greece (CHF 6.4 Million) |
Greece (CHF 9.6 Million) |
Click here to be forwarded to the press release as issued by the Swiss Ministry of finance in this respect. A breakdown of each individual EU member states' share of the tax retained is attached to the press release.
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