On November 23, 2016 the Swiss Federal Council and the Swiss Federal Department of Finance (FDF) issued a joint press release announcing that on that same date the Swiss Federal Council adopted an Ordinance on International Automatic Exchange of Information in Tax Matters. The ordinance will enter into force on January 1, 2017.

The Ordinance contains the Federal Council's implementing provisions for the Federal Act on the International Automatic Exchange of Information in Tax Matters (AEOI Act), which was adopted by the Swiss Parliament on December 18, 2015.

The Ordinance contains a.o. provisions regarding:

·   Alternative provisions of the OECD commentary on the joint reporting standard

·   Reporting requirements

·   Due diligence requirements

·   Reporting obligation of reporting Swiss entities

·   Information that is directly transmitted from abroad

·   Information systems

An annex containing the applicable alternative provisions of the OECD commentary on the joint reporting and due diligence standard for information on financial accounts is attached to the Ordinance.

Furthermore Explanatory Notes to the Regulation on the Explanatory Notes to the Ordinance on the Automatic Exchange of Information in Tax Matters are attached to the press release as issued by the Swiss Government.

Also a Report prepared by the FDF regarding the results of a consultation held on the Automatic Exchange of Information was attached to the press release issued by the Swiss Government in this respect.

Click on the language of your choice to be forwarded to the text of the Ordinance in the language of your choice as available on the website of the Swiss Government, which will open in a new window. (German, French or Italian)

Click on the language of your choice to be forwarded to the text of the Explanatory Notes to the Ordinance on the Automatic Exchange of Information in Tax Matters in the language of your choice as available on the website of the Swiss Government, which will open in a new window. (German, French or Italian)

Click on the language of your choice to be forwarded to the Report prepared by the FDF regarding the results of a consultation held on the Automatic Exchange of Information as published on the website of the Swiss Government, which will open in a new window. (German, French or Italian)

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