Author: Federal Tax Administration
Source: news.admin.ch
Publication Date: 29 December 2025
Reading Time: approx. 2 minutes
Executive Summary
The Federal Tax Administration has updated its exchange rate lists as well as the lists of free shares for the years 2023, 2024 and 2025 at the end of 2025. This measure is relevant for taxpayers and companies that need to claim capital gains and share holdings in their tax returns. The updated lists form the legal basis for the correct taxation of securities holdings.
Critical Guiding Questions
- Transparency: Are the updated exchange rate lists publicly accessible and clearly documented?
- Practical Relevance: What deadlines apply for the use of these new lists in tax returns?
- Equality: Will all taxpayers benefit equally from these updates or will inequalities arise?
- Digitalization: Are the lists available in machine-readable formats?
- Communication: How are taxpayers informed about these changes?
Scenario Analysis: Future Perspectives
| Time Horizon | Expected Development |
|---|---|
| Short-term (1 year) | Increased compliance through updated valuation bases; possible adjustments in 2025 tax returns |
| Medium-term (5 years) | Digitalization of exchange rate list management; integration into automated tax return systems |
| Long-term (10–20 years) | Real-time exchange rate data connection; complete automation of securities taxation |
Main Summary
Core Topic & Context
The Federal Tax Administration has updated its exchange rate lists for direct federal taxation 2024 as well as the free shares lists for 2023, 2024 and 2025. These lists are central instruments for the correct valuation of securities holdings in income and wealth tax assessments.
Most Important Facts & Figures
- Update effective as of 29 December 2025
- Affected: Exchange rate lists for direct federal taxation 2024
- Additionally updated: Free shares lists for three fiscal years (2023, 2024, 2025)
- ⚠️ Specific figures or scope of updates not specified
Stakeholders & Affected Parties
- Taxpayers with securities holdings – must use updated exchange rates
- Financial advisors and trustees – require current data for client advice
- Companies with share portfolios – for accounting and tax returns
- Federal Tax Administration – responsible for timeliness and accuracy
Opportunities & Risks
| Opportunities | Risks |
|---|---|
| Increased accuracy in tax valuations | Delayed implementation by taxpayers |
| Transparency through standardized rates | ⚠️ Unclear transition periods |
| Reduced dispute potential with authorities | Technical access barriers for less experienced users |
Action Relevance
For Taxpayers: Consult exchange rate lists before submitting 2025 tax returns and use current valuations.
For Financial Service Providers: Synchronize systems and advisory processes with updated lists.
For the Administration: Review digital interfaces and real-time data connections.
Quality Assurance & Fact-Checking
- [x] Publication date and source verified: 29.12.2025
- [x] Official source (news.admin.ch) confirmed
- [ ] Specific exchange rate data and scope not provided in text
- [x] No political bias detected
Additional Research
Federal Tax Administration – Official Exchange Rate Lists:
estv.admin.chSwiss Tax Law – Valuation of Securities:
Federal Statistical Office (BFS)Digital Tax Return – eTax Platform:
etax.admin.ch
Source List
Primary Source:
Federal Tax Administration – Exchange Rate Lists (ICTax) – news.admin.ch/de/newnsb/QvKfWpQ8u07c
Verification Status: ✓ Facts checked on 29 December 2025
This text was created with the support of Claude Haiku.
Editorial Responsibility: clarus.news | Fact-Checking: 29 December 2025