By Davide Anghileri, University Lausanne
Switzerland’s Federal Council has initiated a consultation on proposed revisions to the Swiss law establishing a legal basis automatic exchange of information (AEOI) for tax purposes, called the Federal Act and Ordinance on the International Automatic Exchange of Information in Tax Matters.
The consultation, initiated 27 February, aims to add to the Swiss legislation the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum), a 154-country body led by the OECD.
The Global Forum issued recommendations after the examination and review of the Swiss legislation that are designed to ensure the integrity of the AEOI standard and to create a level playing field worldwide.
Hence, to maintain its commitment in promoting tax transparency and combatting tax evasion, the Swiss government started a consultation to introduce, among other things, certain due diligence and registration obligations, the maintenance of a document retention obligation for reporting Swiss financial institutions, as well as definitions.
The amendments to the law and ordinance should enter into force on 1 January 2021. The consultation will last until 12 June 2019. The proposal is due to be discussed by Parliament in spring 2020.
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].
Latest posts by Davide Anghileri (see all)
- Swiss government approves new law governing tax treaties - November 11, 2020
- EU states’ compliance with tax avoidance directives assessed in Commission report - August 26, 2020
- Italy clarifies VAT reporting obligations of online marketplaces - June 16, 2020
- EU blacklist: Cayman Islands added with other three jurisdictions - February 18, 2020
- Italy adopts digital services tax, notional interest deduction - January 8, 2020
Be the first to comment