On 18 November, Switzerland signed joint declarations on the introduction of automatic exchange of information (AEOI) in tax matters with Brazil, Mexico, and Uruguay. 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 the joint declaration and the signing of an agreement with Argentina on 16 November, confirms Switzerland’s international commitment to implementing the AEOI standard and to strengthen its network of AEOI partner states.
The Brazil, Mexico, and Uruguay 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). In fact, the agreements state that confidentiality rules and data safeguards are to be applied in keeping with the applicable international standards.
The two declarations with Mexico and Uruguay were signed by Swiss Ambassadors, while the one with Brazil was signed by the State Secretary Jörg Gasser from the State Secretariat for international Finance Matters.
The visit to Brazil also gave the Swiss delegation an opportunity to discuss Switzerland’s financial market policy, market access for financial service providers, the positions of partners in international financial bodies, and the possibility of structural reforms.