Automatic Exchange of Information

Dr. Samuel Bussmann

 

Switzerland and the European Union (”EU”) signed an agreement regarding automatic exchange of information in tax matters (“AEOI”) on Mai 27, 2015. Formal, the AEOI is a protocol of amendment, which replaces the current taxation of savings agreement between Switzerland and the EU. Simultaneous with the signing, the Federal Council opened the consultation process. The consultation process lasts until September 17, 2015. After the consultation process, the (AEOI) will be submitted for parliament's approval.

In the agreement the OECD's global AEOI standard has been included in full in the new agreement. Provided that the approval process is completed on time in Switzerland and the EU, both parties are going to collect account data from January 1, 2017 and are going to reciprocally exchange data from January 1, 2018.

 

 

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