Market Taxation Guide (Depositaries) - Switzerland

Overview

Investment funds

Security Type	Eligible Investment Funds^a
Standard Rate of Withholding Tax	35%
Relief at Source available	No
Eligible Beneficial Owners	-
Reclaim available	Yes
Eligible Beneficial Owners	Non-residents of Switzerland
Capital Gains Tax at Source	No
Stamp Duty at Source	No

a. Investment funds for which more than 80% of the income is derived from a foreign source.

Withholding tax

The standard rate of withholding tax on income payments on eligible Swiss investment funds is 35%.

Relief at source is not available through Clearstream Fund Centre.

A reclaim of withholding tax is available through Clearstream Fund Centre if:

More than 80% of the income on the Swiss investment funds is derived from a foreign source;
and
The beneficial owner qualifies as a non-resident of Switzerland.

Clients can reclaim withholding tax on behalf of beneficial owners through Clearstream Fund Centre by submitting the appropriate documentation.

Capital gains tax

There is no capital gains tax withheld through Clearstream Fund Centre on securities held in Clearstream Fund Centre. Capital gains tax may however be payable on specific gains. Clearstream Fund Centre does not assist in this regard. Please consult your tax advisor for further information.

Stamp duty

There is no stamp duty withheld through Clearstream Fund Centre on securities held in Clearstream Fund Centre. Stamp duty may, however, be payable on specific transactions. Clearstream Fund Centre does not assist in this regard. Please consult your tax advisor for further information.

Market Taxation Guide (Depositaries) - Switzerland - CFCL