On December 1, 2016 the Swiss Federal Department of Finance (FDF) opened a consultation on introducing the automatic exchange of information (AEOI) in tax matters with a series of other countries. The AEOI with these countries should enter into force on January 1, 2018 so that data can start to be exchanged in 2019. The consultation will last until March 15, 2017.

 

This series of other countries includes: Andorra, Argentina, Barbados, Bermuda, Brazil, the British Virgin Islands, the Cayman Islands, Chile, the Faroe Islands, Greenland, India, Israel, Mauritius, Mexico, Monaco, New Zealand, San Marino, the Seychelles, South Africa, the Turks and Caicos Islands and Uruguay. From a legal viewpoint, the automatic exchange of information with these countries will be implemented based on the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). The MCAA is based on the international standard for the exchange of information developed by the OECD.

 

Switzerland will introduce the AEOI already in 2017 with all of the EU states including Gibraltar and with Australia. The same applies to Iceland, Norway, Japan, Canada, South Korea and the British crown dependencies of Jersey, Guernsey and the Isle of Man. The entry into force of the AEOI with these countries and territories  is conditional on approval by the Swiss Parliament in the 2016 winter session.

 

In this respect the FDF released the following documents:

·   Federal Decrees (German, French or Italian)

·   Explanatory Report (German, French or Italian)

·   Letter to the Cantons (German, French or Italian)

·   Letter to the organizations (German, French or Italian)

·   List of addressees (German)

 

 

 

 

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