Tax services for Swiss investment and pension funds

Optimised comprehensive tax services for Swiss investment and pension funds

For many years, we have provided optimal withholding tax solutions and comprehensive tax services for leading Swiss pension funds – particularly those investing through a Swiss single investor fund or a Swiss fund for qualified investors.

Contacts

Our value-added tax services for Swiss single investor funds

When optimising your withholding taxes (coupons and dividends), our expertise is applied on four levels:

  • Double Taxation Agreements ("DTAs")

  • The provisions of foreign domestic law where these are more advantageous

  • EU law (case law of the Court of Justice of the European Union (CJEU) against withholding tax discrimination)

  • Our expertise and long-standing practical experience in tax transparency in more than 10 jurisdictions, formally validated by rulings from with the relevant foreign tax authorities

Through these four levels of expertise, we can significantly reduce the cost of your withholding taxes and allow your fund to achieve an optimal return. 

For example, a single investor fund held in custody at Pictet could, thanks to our specific tax services, increase the return of its portfolio1 by up to 16% compared with a selection of standard Swiss multi-investors funds. This additional return is to be confirmed on a case by case basis and depends on the specific situation.

Don’t hesitate to contact us for a specific and detailed assessment of your situation to optimise your withholding taxes.

Gross additional return of the income sub-component for a portfolio of equities (developed countries), excluding normal fund expenses and tax ruling costs.

Pictet tax services — unique value proposition

  • Improved cash flow management

    We can conduct all the necessary steps on your behalf and obtain withholding tax relief directly at source (whenever the market allows it) thanks to our network of local sub-custodians and in-house unit of tax specialists

  • Customised approach for your portfolio

    A tailored Tax Matrix monitors your withholding tax rates country-by-country for equities, corporate bonds and government bonds. Detailed reports on withholding tax refunds are provided to clients on request

  • Institutional-focused service

    Gain access to highly professional tax services tailored to institutional clients. Our tax experts proactively keep track of tax changes that could impact our clients

  • Pioneering and dynamic offering

    Benefit from tax-related services from a first-mover with a solid track record in withholding tax services for institutional clients

Complete solutions for withholding tax relief and recovery

Most countries apply a withholding tax on income from securities (e.g. on coupons and dividends). We can conduct all the necessary steps and formalities on your behalf to minimise or, in some markets, eliminate this withholding.

For over 30 years, we have been providing our institutional clients with tax solutions and services, with a focus on the recovery and reclaiming of Swiss and foreign taxes deducted at source. Our team of experts regularly monitor market developments in this area. 

Main markets currently offered:
GermanySpainJapanCzechia  
AustraliaUnited StatesLuxembourgRussia  
AustriaFinlandNorwaySingapore (REIT)  
BelgiumFranceNew ZealandSweden  
CanadaIrelandNetherlandsSwitzerland  
South KoreaItalyPolandTaiwan  
DenmarkIsraelPortugalUK (Reit)  

(in bold, countries with a direct relief at source).

We will be happy to provide information on the situation in other countries on request.

Thanks in part to our presence through an extensive network of local sub-custodians in several countries, we are able to offer both a local expertise and a global perspective. We offer tax relief directly at source in most of our markets, thereby improving our clients' cash flow. For Switzerland, we also offer the repayment of withholding tax by instalment (in advance) or its enforcement by simple declaration in accordance with Art. 38 of the Withholding Tax Ordinance.

As an institutional investor, you need local expertise combined with a global perspective.
— Celine Cottet, Market Head French Speaking Switzlerand

Our tax services also cover

  • Monitoring of tax legislation (Tax Watch):

    Our tax experts regularly and proactively monitor tax changes that may have an impact on our institutional clients. They closely follow changes in DTAs, case law and the provisions of foreign domestic law. The opportunities that arise from these changes are then implemented proactively. Our team of experts is available to answer any questions you may have.

  • Team of tax experts and operational specialists at your service:

    We have the tax expertise and operational structure you need. With our network of local sub-custodians and in-house unit of tax specialists and experts dedicated to institutional clients, we can ensure the optimal implementation of withholding tax relief and track refund claims filed in your favour until you have been credited by the relevant tax authorities. The team is available to answer any questions you may have while these procedures are ongoing.

  • Reports on pending tax refund claims:

    Upon request, we can provide our clients with a detailed report on withholding tax refunds and relief, including a range of data on their respective investments. 

  • Tax agent services:

    We can also assist you with local representatives regarding your obligations in markets such as India, where the appointment of a representative is required for the processing of Capital Gains Tax (CGT). Our tax agent services are now also available for Bangladesh, Botswana, Pakistan, Romania and Taiwan.

Disclaimer

The information in this document is provided for marketing and information purposes for Swiss qualified, institutional or professional investors only. It does not necessarily represent the views of its author or the author’s employer and does not in any way constitute either legal or tax advice. The information in this document must not be used to circumvent tax liability and/or tax penalties in any manner. It reflects an evaluation as at the date of initial publication and may be changed without notice. Furthermore, the Pictet Group (NB: which includes the entities mentioned in the annual report, published on www.pictet.com, hereafter “Pictet”), is not under any obligation to update or keep current the information – or its source – contained herein and may not be held liable for said information. Any recipient of this document who would like to have further clarification on the range of information provided in respect of their own situation should seek the advice of a specialist.

Tax treatment depends on the recipient's circumstances and may be subject to change in the future. Pictet does not provide legal or tax advice and makes no representations as to the tax treatment of assets or the investment returns thereon, either in general or with reference to specific recipients' circumstances and needs. Pictet recommends that recipients obtain independent legal and tax advice on the implications of the products/services in the respective jurisdiction before making decisions. This document and its contents have not been reviewed by, delivered to or registered with any regulatory or other relevant supervisory authority.

Furthermore, this document includes services and products which require an individualised and tailor-made set up. Such services and products may require further Pictet internal approvals on a case-by-case basis, which may depend on various client- and Pictet-specific factors.Pictet is not liable for the use, transmission or exploitation of the content of this document. Therefore, any form of reproduction, copying, disclosure, modification and/or publication of the content is under the sole liability of the recipient of this document, and no liability whatsoever will be incurred by Pictet. The recipient of this document agrees to comply with the laws and regulations in the jurisdictions where they use the information reproduced in the document.

This document, issued by the Pictet, may be quoted, provided that the source is indicated. All rights reserved. Copyright 2023.

Please confirm your profile
Please confirm your profile to continue
Or select a different profile
Confirm your selection
By clicking on “Continue”, you acknowledge that you will be redirected to the local website you selected for services available in your region. Please consult the legal notice for detailed local legal requirements applicable to your country. Or you may pursue your current visit by clicking on the “Cancel” button.

Welcome to Pictet

Looks like you are here: {{CountryName}}. Would you like to change your location?