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Income taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure Of Income Taxes [Line Items]  
Disclosure Of Income Tax By Geographical Areas Explanatory
For the year ended
USD million31.12.2031.12.1931.12.18
Tax expense / (benefit)
Swiss
Current 482 365 469
Deferred 116 265 2,377
Total Swiss 598 630 2,846
Non-Swiss
Current 749 426 575
Deferred 236 211 (1,953)
Total non-Swiss 985 637 (1,378)
Total income tax expense / (benefit) recognized in the income statement 1,583 1,267 1,468
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block]
For the year ended
USD million31.12.2031.12.1931.12.18
Operating profit / (loss) before tax 8,155 5,577 5,991
of which: Swiss 3,403 2,571 1,843
of which: non-Swiss 4,752 3,006 4,148
Income taxes at Swiss tax rate of 19.5% for 2020, 20.5% for 2019 and 21% for 2018 1,590 1,143 1,258
Increase / (decrease) resulting from:
Non-Swiss tax rates differing from Swiss tax rate 110 82 55
Tax effects of losses not recognized 144 131 223
Previously unrecognized tax losses now utilized (212) (265) (25)
Non-taxable and lower-taxed income (394) (351) (430)
Non-deductible expenses and additional taxable income 385 732 905
Adjustments related to prior years – current tax (67) (5) 114
Adjustments related to prior years – deferred tax 12 (6) 26
Change in deferred tax recognition (381) (294) (795)
Adjustments to deferred tax balances arising from changes in tax rates 234 (9) 0
Other items 161 107 137
Income tax expense / (benefit) 1,583 1,267 1,468
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory
USD million31.12.2031.12.191
Deferred tax assets2GrossValuationallowanceRecognizedGrossValuationallowanceRecognized
Tax loss carry-forwards 14,108 (8,715) 5,393 14,826 (8,861) 5,965
Temporary differences 4,384 (565) 3,819 4,197 (613) 3,583
of which: related to real estate costs capitalized for US tax purposes 2,268 0 2,268 2,219 0 2,219
of which: related to compensation and benefits 1,128 (173) 955 1,091 (179) 912
of which: related to trading assets 23 (6) 16 99 (5) 93
of which: other 966 (386) 580 788 (429) 359
Total deferred tax assets 18,492 (9,280) 9,212 19,022 (9,474) 9,548
Deferred tax liabilities
Goodwill and intangible assets 31 29
Cash flow hedges 425 156
Other 108 126
Total deferred tax liabilities 564 311
1 Comparative-period information has been restated. Refer to Note 1b for more information. 2 Less deferred tax liabilities as applicable.
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block]
USD million31.12.2031.12.191
Deferred tax assets2GrossValuationallowanceRecognizedGrossValuationallowanceRecognized
Tax loss carry-forwards 14,108 (8,715) 5,393 14,826 (8,861) 5,965
Temporary differences 4,384 (565) 3,819 4,197 (613) 3,583
of which: related to real estate costs capitalized for US tax purposes 2,268 0 2,268 2,219 0 2,219
of which: related to compensation and benefits 1,128 (173) 955 1,091 (179) 912
of which: related to trading assets 23 (6) 16 99 (5) 93
of which: other 966 (386) 580 788 (429) 359
Total deferred tax assets 18,492 (9,280) 9,212 19,022 (9,474) 9,548
Deferred tax liabilities
Goodwill and intangible assets 31 29
Cash flow hedges 425 156
Other 108 126
Total deferred tax liabilities 564 311
1 Comparative-period information has been restated. Refer to Note 1b for more information. 2 Less deferred tax liabilities as applicable.
Disclosure of unrecognized tax loss carry-forwards
Unrecognized tax loss carry-forwards
USD million31.12.2031.12.19
Within 1 year 146 13
From 2 to 5 years 638 609
From 6 to 10 years 13,257 14,712
From 11 to 20 years 3,858 4,030
No expiry 17,227 18,364
Total 35,127 37,728
UBS AG  
Disclosure Of Income Taxes [Line Items]  
Disclosure Of Income Tax By Geographical Areas Explanatory
For the year ended
USD million31.12.2031.12.1931.12.18
Tax expense / (benefit)
Swiss
Current 417 336 434
Deferred 107 246 2,326
Total Swiss 524 582 2,760
Non-Swiss
Current 715 402 537
Deferred 248 214 (1,952)
Total non-Swiss 963 616 (1,415)
Total income tax expense / (benefit) recognized in the income statement 1,488 1,198 1,345
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block]
For the year ended
USD million31.12.2031.12.1931.12.18
Operating profit / (loss) before tax 7,699 5,169 5,458
of which: Swiss 3,042 2,297 1,427
of which: non-Swiss 4,657 2,872 4,031
Income taxes at Swiss tax rate of 19.5% for 2020, 20.5% for 2019 and 21% for 2018 1,501 1,060 1,146
Increase / (decrease) resulting from:
Non-Swiss tax rates differing from Swiss tax rate 96 72 68
Tax effects of losses not recognized 144 131 222
Previously unrecognized tax losses now utilized (212) (265) (25)
Non-taxable and lower-taxed income (381) (305) (419)
Non-deductible expenses and additional taxable income 373 713 883
Adjustments related to prior years – current tax (66) 1 114
Adjustments related to prior years – deferred tax 18 (6) 27
Change in deferred tax recognition (383) (293) (802)
Adjustments to deferred tax balances arising from changes in tax rates 235 (9) 0
Other items 163 99 130
Income tax expense / (benefit) 1,488 1,198 1,345
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory
USD million31.12.2031.12.191
Deferred tax assets2GrossValuationallowanceRecognizedGrossValuationallowanceRecognized
Tax loss carry-forwards 14,108 (8,715) 5,393 14,826 (8,861) 5,965
Temporary differences 4,343 (561) 3,782 4,169 (610) 3,559
of which: related to real estate costs capitalized for US tax purposes 2,268 0 2,268 2,219 0 2,219
of which: related to compensation and benefits 1,112 (173) 939 1,086 (179) 907
of which: related to trading assets 23 (5) 16 99 (5) 93
of which: other 940 (383) 558 765 (426) 340
Total deferred tax assets 18,450 (9,276) 9,174 18,995 (9,471) 9,524
Deferred tax liabilities
Goodwill and intangible assets 31 29
Cash flow hedges 425 156
Other 102 126
Total deferred tax liabilities 558 311
1 Comparative-period information has been restated. Refer to Note 1b for more information. 2 Less deferred tax liabilities as applicable.
Disclosure of total recognized and unrecognized deferred tax assets ("Gross") and unrecognized deferred tax assets ("Valuation Allowance") [text block]
USD million31.12.2031.12.191
Deferred tax assets2GrossValuationallowanceRecognizedGrossValuationallowanceRecognized
Tax loss carry-forwards 14,108 (8,715) 5,393 14,826 (8,861) 5,965
Temporary differences 4,343 (561) 3,782 4,169 (610) 3,559
of which: related to real estate costs capitalized for US tax purposes 2,268 0 2,268 2,219 0 2,219
of which: related to compensation and benefits 1,112 (173) 939 1,086 (179) 907
of which: related to trading assets 23 (5) 16 99 (5) 93
of which: other 940 (383) 558 765 (426) 340
Total deferred tax assets 18,450 (9,276) 9,174 18,995 (9,471) 9,524
Deferred tax liabilities
Goodwill and intangible assets 31 29
Cash flow hedges 425 156
Other 102 126
Total deferred tax liabilities 558 311
1 Comparative-period information has been restated. Refer to Note 1b for more information. 2 Less deferred tax liabilities as applicable.
Disclosure of unrecognized tax loss carry-forwards
Unrecognized tax loss carry-forwards
USD million31.12.2031.12.19
Within 1 year 146 13
From 2 to 5 years 638 609
From 6 to 10 years 13,257 14,712
From 11 to 20 years 3,858 4,030
No expiry 17,227 18,364
Total 35,127 37,728