Tax Declaration - Fully Digital: Cooperation with Saxo Bank Schweiz AG

(Press Release, Zurich, March 2022) Saxo Bank – Specialist for online Trading and Investment – has entered a cooperation with the Zurich based fintech datalevel to offer electronic tax statements to their clients. Swiss residential clients of Saxo Bank can from now receive their electronic tax statement starting with tax year 2021. Utilizing the electronic tax statement substantially reduces their effort to declare taxes in Switzerland and helps Saxo Bank to further optimize their processes.    

In order to generate the electronic tax statement, datalevel consolidates all relevant data of the applicable tax period. The statement includes a detailed compilation of assets, cash-holdings, earnings, debts and tax-deductible fees. Clients of Saxo Bank can import the data to their cantons tax declaration software in seconds.

Cooperation with the Tax Administration and Swiss Tax Conference 

datalevel fetches the required financial and securities data from Saxo Bank. Client identifying or sensitive data is not needed by datalevel to generate the reports. To compute the tax values, the securities data is automatically matched with the current price data of the Swiss federal tax administration (FTA). As part of their service agreement, datalevel regularly certifies their electronic tax statements with the Swiss tax conference (German: “Schweizer Steuerkonferenz”). Wolfgang Millat, CEO of datalevel “The consolidation of tax relevant data within our data refinery box has been well-established. Enabling Saxo Bank to offer the Swiss electronic tax statements to their clients is another milestone for us.”

About datalevel 

At the center of our solution and service portfolio is our in-house developed data refinery box. As of today, numerous well known universal- and private banks, family offices and wealth managers trust the services of the fintech founded in 2017. In addition to solutions in the tax and compliance applications, the data refinery box is utilized as ‘Open Banking Enabler’ to enable integration of a wide range of systems. Users can utilize the interactive web-platform. Additional services to support further B2X use-cases based on the data refinery box are currently under development.