South Africa, Switzerland agree to automatic exchange of information

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by Davide Anghileri

On 24 November, Switzerland signed joint declarations on the introduction of automatic exchange of information (AEOI) in tax matters with South Africa. The data collecting will start on a reciprocal basis in accordance with the global AEOI standard in 2018 and the exchange will be in force from 2019 onwards.

The signing of this joint declaration, after five similar agreements in the last week, confirms Switzerland’s international commitment to implement the AEOI standard and to strengthen its network of AEOI partner states.

The AEOIs will be grounded on the international standard for the exchange of information developed by the OECD included in the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). The agreements state that confidentiality rules and data safeguards are to be applied in keeping with the applicable international standards.

The declaration was also the occasion to recognise the importance and potential benefits of cross-border investment and financial services between the two countries. In fact, the countries agreed to strive to facilitate and improve the conditions for providing financial services between their jurisdictions and strengthen their co-operation on financial sector issues through regular dialogue.

Davide Anghileri

Davide Anghileri

PhD researcher and lecturer at University of Lausanne

Davide Anghileri is a PhD candidate at the University of Lausanne, where he is writing his thesis on the attribution of profits to PEs. He researches transfer pricing issues and lectures for the Master of Advanced Studies in International Taxation and Executive Program on Transfer Pricing.

Anghileri, a Contributing Editor at MNE Tax, previously worked as a policy advisor to the Swiss government on BEPS issues. He can be reached at danghileri@yahoo.it.

Davide Anghileri