tool and the respective software was developped by the German Tax
& Legal Center of KPMG AG. This document is based on our
interpretation (as of 6 October 2011) of the agreement between
Switzerland and Germany on cooperation in the area of taxation (Tax
agreement Germany - Switzerland). The calculations are based on the
status of the agreement as of 21 September 2011.
According to the most favoured nation clause included in the amended UK Tax Agreement,
the UK may request that the higher level of taxation under the German Agreement shall also
apply under the UK Tax Agreement. The UK made use of this clause.
KPMG AG makes this tool available free of charge for a first analysis of
the possible tax burden (in percent). KPMG AG does note guarantee for
the accuracy and completeness of the figures, information, calculation
and the formula used for the calculation. KPMG AG is not liable for any
mistakes or misapprehensions of the interpretation or application.
For past dates, the currency conversion is made based on the respective
exchange rates published by SIX Telekurs. For the currency conversion in
the years 2011 and 2012, an exchange rate of CHF 1.2 : EUR 1 was
assumed. This assumed exchange rate may significantly differ from the
applicable exchange rates for these future dates.
The mentioned figures and amounts in percent have only informative
character and shall not replace or substitute any advice by a
professional tax advisor. Individual advice is required in each and
every individual case. KPMG’s German Tax & Legal Center in Zurich
would be pleased to assist you (telephone 0041 44 249 32 58).
Information on the assets
In the following, only the tax burden for the entered account under the
Swiss/German agreement is calculated. The outflows (e.g. withdrawels,
transfers out of securities, etc.) in the years 2011 and 2012 are only
required for the calculation of the estimated capital as per 31/12/2012.