Banks are such thieves! Even Swissquote, maligned for being expensive, does not charge an annual deposit on traded shares and CHF200/year for depositing them.
Shares should be tax free when you sell them too - no capital gains tax.
It is a US traded stock. There will be capital gains tax upon sale by Uncle Sam.
I’ve bought and sold Tesla stock for 6 years now and never paid any…
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Are you sure?
Yes. One capital gain was well into 6 figures. The tax office wrote asking if I had received an inheritance. I replied that I sold my Tesla shares. No further comment or tax demand. That was 4 years ago…
Usually, the broker, especially if not US based, is responsible and handles the expected tax that a client must pay. The withholding is deducted from the sale and goes to the IRS. It is then up to the client to declare the sale to reclaim any overcharge. In your case it would of been with the IRS. Otherwise, any entitlement is forfeited.
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From Grok:
As a Swiss resident living in Zurich, you generally do not have to pay U.S. capital gains tax on U.S. shares bought and sold in U.S. dollars from Switzerland, provided you are not a U.S. citizen, U.S. resident, or otherwise subject to U.S. tax jurisdiction. The U.S. typically only imposes capital gains tax on U.S. citizens, U.S. residents, or non-residents with specific U.S.-source income or activities (e.g., conducting a trade or business in the U.S.). Since you are a Swiss resident and the transactions occur from Switzerland, U.S. capital gains tax would not typically apply.