Hi,
I am using IBKR and I need to manually calculate how much taxes are due on each transaction (to comply with the Belgian TOB). Is it possible to instruct the software to define various “tax rules”, depending on the asset class?
For example, I will need to calculate a 0.35% on each stock transaction, 0.12% on ETF transactions, and so on. If PP could that on its own, it would save me an extra step.
Hey TheNomad,
I am afraid that this will not be implemented. PortfolioPerformance is a multinational tool and in each country there are different tax rules and methods for taxing, etc. Put automatic taxing into PP tremendously would increase the programming and service effort.
There were several requests for automatic taxing in PP here, however, the topic is too individual.
I didn’t mean that PP should follow every rule there is (maybe some day in the future where we might have a common EU fiscal policy). Instead, let the users themselves define the rules.
I.e. it is unlikely that taxes on a sale or tranaaction, for example, would be calculated ad hoc or arbitrarily. Until the law changes, it should always be the same. But for example it could be possible to define some simple rules, say a percentage on the net, depending on the asset class.
That way you wouldn’t have to follow every regulation. Each user could define their own most commonly used tax-related calculations. Anyway, just an idea.