These are important days for Switzerland in its battle to promote of tax transparency and combat tax evasion.
Switzerland, on September 26, deposited the instruments of ratification for the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Administrative Assistance Convention) with the OECD in Paris, demonstrating its commitment to implementing international standards.
The convention, signed by Switzerland in October 2013, was approved by Parliament in December 2015.
The agreement will enter into force for Switzerland on January 1, 2017, and will be applicable for the exchange of information in tax matters in accordance with the rules of the convention and the corresponding instruments for implementation.
As a result, automatic exchange of financial account information will be implemented in time to commence exchanges in 2018.
Moreover, due to article 6 of the Convention, the ratification implies a commitment to implement the measures provided by the CRS Multilateral Competent Authority Agreement and the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports.
Davide Anghileri
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.
Davide can be reached at [email protected].
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