French Finance Minister Michel Sapin and Swiss Finance Minister Eveline Widmer-Schlumpf, on June 25, signed an amendment to the countries’ 1966 tax treaty, agreeing to improve the exchange of information on tax matters.
The agreement provides that information may be requested on groups of taxpayers. It also provides for the possibility of requesting banking information without revealing the identity of the account holder.
Swiss authorities also committed to addressing, by November, outstanding French information requests.
Sapin said that improving information exchange was a step towards automatic exchange of tax information, which is destined to become the new standard in international tax cooperation.
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