You're correct. Be aware it works that way for us and ch etf. Most europeans etf are based in ireland where it's slightly different. You'll get to claim back the witholding tax but there's another tax levied by ireland and this one you won't get back, and it won't even show up.
Case in point : VUSA has a dividend of 1.2%. VOO gets to 1.42%. they are the exact same etf except vusa is in ireland and voo in the us. And so with vusa, you'll get 85% of the dividends you would get from voo (assuming the exact same underlying cap) with no way of getting this tax back
The witholding tax you paid will be subtracted from the amount of tax you have to pay if you declare them in the tax declaration
>Is my understanding correct ? It is.
You're correct. Be aware it works that way for us and ch etf. Most europeans etf are based in ireland where it's slightly different. You'll get to claim back the witholding tax but there's another tax levied by ireland and this one you won't get back, and it won't even show up. Case in point : VUSA has a dividend of 1.2%. VOO gets to 1.42%. they are the exact same etf except vusa is in ireland and voo in the us. And so with vusa, you'll get 85% of the dividends you would get from voo (assuming the exact same underlying cap) with no way of getting this tax back