Switzerland signed joint declarations on the introduction of automatic exchange of information (AEOI) in tax matters with Israel, New Zealand, and San Marino on 27 November, 30 November, and 2 December, respectively, the Swiss government has announced.
The data collection will start on a reciprocal basis in 2018 in accordance with the global AEOI standard; the exchanges will commence from 2019 onwards.
The signing of the joint declarations and similar agreements confirm Switzerland’s international commitment to implement the AEOI standard and to strengthen its network of AEOI partner states.
The three 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. In fact, the agreements state that confidentiality rules and data safeguards will be applied in keeping with the applicable international standards.
A visit to Israel gave the State Secretary Jörg Gasser from the State Secretariat for International Finance Matters an opportunity to discuss international initiatives in financial and tax matters, regulatory issues, and closer bilateral cooperation in the area of market access, the government said.
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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