Switzerland and EU initial agreement on automatic exchange of information in tax matters

Switzerland and the European Union on March 19 initialed an agreement to commence automatic exchange of information from 2018 once the necessary legal basis has been created, Switzerland’s Federal Department of Finance has announced.

The agreement will replace the taxation of savings agreement between Switzerland and the EU that has been in force since 2005. Provision for withholding tax exemptions for cross-border payments of dividends, interest, and royalties between related entities will be carried over from the existing taxation of savings agreement.

See:

• Release