Switzerland’s Federal Council on April 20 launched a consultation on draft revisions to its rules on tax administrative assistance, including a complete rewrite of rules on spontaneous exchange of information with foreign tax administrations.
The draft guidance contains procedures to effectuate spontaneous exchange of information on tax rulings, including a description of the types of advance rulings subject to exchange of information. It also provides that advance tax rulings issued before January 1, 2010 are excluded from spontaneous exchange.
According to the Federal Council, the draft provisions are compatible with the OECD/G20 base erosion profit shifting project.
The revised ordinance is expected to come into force on January 1, 2017, with Switzerland spontaneously exchanging information from January 1, 2018.
The consultation will run through August 10.
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