The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) ensures that the international standards regarding transparency and the exchange of information for tax purposes are complied with and are implemented in a uniform manner internationally. Switzerland ist a member of the Global Forum.
Exchange of information upon request
The Global Forum uses peer reviews to assess the application of the international standard on the exchange of information upon request (administrative assistance) in individual states. The Global Forum already rated Switzerland as largely compliant during its first round peer review in 2016, and issued some recommendations.
The Global Forum also rated Switzerland as largely compliant in 2020 in the second round of peer reviews. As with all Global Forum members, the second round involved stricter evaluation criteria, such as the quality of administrative assistance requests, group requests and the identification of beneficial owners.
For an overview of which countries have already completed the reviews, as well as their results, please click here: Overall rating following peer reviews of the standard for the exchange of information on request (exchange of information on request, EOIR).
Automatic exchange of information
The Global Forum has started to perform comprehensive peer reviews concerning the automatic exchange of information on financial accounts (AEOI). Both the legal framework and AEOI effectiveness in practice are evaluated.
The review of the legal framework was completed in 2020. Switzerland's assessment in this regard was "in place but needs improvement". In the opinion of the Global Forum, the exemptions from the reporting duty envisaged for certain associations and foundations are not standard-compliant. With regard to the future revision of the AEOI standard, Switzerland has submitted the associated questions to the competent OECD working group for review.
The review of AEOI effectiveness in practice has been postponed until 2022 because of the pandemic.
Last modification 18.02.2021