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10 Legal reserves from capital contributions

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CHF millions

2012

2013

1

Under current Swiss tax legislation, the amount of legal reserves from capital contributions, which has been confirmed by the Swiss Federal Tax Administration, can be paid out as dividends exempt from Swiss withholding tax, and for Swiss resident individual shareholders holding shares in private wealth also exempt from Swiss income taxes.

Opening balance of legal reserves from capital contributions

8 995

7 994

Reclassification to other reserves for dividend payments

–1 032

–2 571

Additions to legal reserves from capital contributions

31

–

Legal reserves from capital contributions as of 31 December

7 994

5 423

thereof confirmed by the Swiss Federal Tax Administration1

7 802

5 231