Global Forum: Switzerland receives good rating

Bern, 26.07.2016 - Upon completion of its peer review today, Switzerland has been given an overall rating of largely compliant from the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum). This positive rating reflects the progress made in recent years with the implementation of the international standard for the exchange of information on request.

The Global Forum assesses by means of peer reviews how the international standard for the exchange of information on request is being applied in individual countries. The peer reviews are conducted in two phases. Phase 1 covers the legal and regulatory framework in the country concerned. Phase 2, to which Switzerland was admitted in 2015, assesses the efficiency of the exchange of information in practice. An overall rating is given upon completion of the peer review.

The positive rating has been achieved as a result of the measures taken by Switzerland in several areas during the assessment period from 1 July 2012 to 30 June 2015. The Global Forum assessed as positive in particular the exception to the taxpayer notification procedure enshrined in the Tax Administrative Assistance Act for administrative assistance requests and the extension of Switzerland's network of standard-compliant information exchange agreements. It also viewed the increase in staffing for the efficient exchange of information as positive.

A new review round on the exchange of information on request will begin this year. Switzerland's review is due to start at the end of 2018. New elements will be added to the assessment terms of reference in the new review round. Group requests, the identification of beneficial owners and the quality of administrative assistance requests submitted by countries will also be evaluated. If Switzerland is to maintain its good rating or even improve on it in the next review round, it must examine how the Global Forum's recommendations can be implemented.


Address for enquiries

Roland Meier, Media Spokesperson FDF
Tel. +41 58 462 60 86, roland.meier@gs-efd.admin.ch



Publisher

Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html

Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html

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