On December 9, 2016 the Japanese Ministry of Finance released the Notes that the Government of Japan and the Swiss Federal Council exchanged concerning the automatic exchange of information under the Convention on Mutual Administrative Assistance in Tax Matters.

The Exchange of Notes is intended to ensure that Japan and Switzerland will be able to commence the automatic exchange of financial account information related to taxable periods or charges to tax beginning on or after 1 January 2017 from 2018 in accordance with the Common Reporting Standard established by the OECD, as is already confirmed by the Joint Statement between the two Governments signed last January (See our article from January 29, 2016).

The Notes exchanged are being regarded as constituting an agreement between the two Governments, which shall enter into force from the date of entry into force of the Convention in respect of Switzerland.

Click here to be forwarded to the Exchange of Notes as available on the website of the Japanese Ministry of Finance, which will open in a new window.

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