During its meeting of 16 June 2017, the Swiss Federal Council adopted the dispatch on the introduction of the automatic exchange of financial account information (AEOI) with 41 states and territories. The implementation is planned for 2018, and the first sets of data should be exchanged in 2019. In the dispatch the Swiss Federal Council asks the Nationalrat (the National Council) and the Ständerats (the Council of States) to approve the drafts of the:
- Federal decisions on the introduction of automatic information exchange of financial account information from 2018/2019 with 41 partner countries;
- Federal decision on the testing mechanism to ensure the standard conformity implementation of automatic information exchange of financial accounts with partner countries from 2018/2019.
The 41 partner countries mentioned in the Federal decision on the introduction of automatic information exchange of financial account information from 2018/2019 are:
|
1) |
Andorra; |
2) |
Antigua and Barbuda; |
|
3) |
Argentina; |
4) |
Aruba; |
|
5) |
Barbados; |
6) |
Belize; |
|
7) |
Bermuda; |
8) |
Brasil; |
|
9) |
British Virgin Islands; |
10) |
Cayman Islands; |
|
11) |
Chile; |
12) |
China; |
|
13) |
Colombia; |
14) |
Cook Islands; |
|
15) |
Costa Rica; |
16) |
Curacao; |
|
17) |
Faroe Islands; |
18) |
Greenland; |
|
19) |
Grenada; |
20) |
India; |
|
21) |
Indonesia; |
22) |
Israel; |
|
23) |
Liechtenstein; |
24) |
Malaysia; |
|
25) |
Marshall Islands; |
26) |
Mauritius; |
|
27) |
Mexico; |
28) |
Monaco; |
|
29) |
Montserrat; |
30) |
New Zealand; |
|
31) |
Russian Federation; |
32) |
San Marino; |
|
33) |
Saint Kitts and Nevis; |
34) |
Saint Lucia; |
|
35) |
Saint Vincent and the Grenadines; |
36) |
Saudi Arabia; |
|
37) |
Seychelles; |
38) |
South Africa; |
|
39) |
Turks and Caicos Islands |
40) |
United Arab Emirates; and |
|
41) |
Uruguay. |
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|
According to a press release issued by the Swiss Federal Council in this respect, the AEOI will be activated with each individual state or territory by means of a specific federal decree within the framework of this dispatch. The exchange of information itself will be carried out based on the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA), which is in turn based on the international standard for the exchange of information developed by the Organisation for Economic Co-operation and Development (OECD).
Following the comments made during the consultations, the federal decree envisages that the Federal Council will prepare a situation report before the first exchange of data, which is planned for autumn 2019. In the process, it will be checked whether the states and territories concerned effectively meet the requirements under the standard, especially those concerning confidentiality and data security.
Click on the language of your choice to be forwarded to a document in that language:
The dispatch on the introduction of the automatic exchange of financial account information (AEOI) with 41 states and territories (German, French or Italian);
Federal decisions on the introduction of automatic information exchange of financial account information from 2018/2019 with 41 partner countries; (German, French or Italian);
Federal decision on the testing mechanism to ensure the standard conformity implementation of automatic information exchange of financial accounts with partner countries from 2018/2019 (German, French or Italian);
Report of the Federal Department of Finance on the results of the consultation on the introduction of the automatic information exchange on financial accounts with 41 partner countries from 2018/2019 (German, French or Italian).
In 2017, Switzerland already introduced the AEOI with 38 states and territories, including all EU member states, and data will start to be exchanged with them in 2018.
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