Financial accounts

Tax transparency should be increased and cross-border tax evasion and should be prevented with the help of the global standard for the automatic exchange of information on financial accounts (AEOI). The global standard makes provision for the mutual exchange of information on financial accounts between states and territories that have agreed among themselves to the AEOI. Aside from Switzerland, over 100 states and territories, including all major financial centres, have declared their intention to adopt the standard.

The legal basis for the AEOI was approved by The Federal Assembly in December 2015. It entered into force on 1 January 2017.

Switzerland generally implements the AEOI on the basis of the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). Bilateral treaties have been concluded with the EU, Hong Kong and Singapore as the basis for the AEOI.

The Federal Tax Administration (FTA) is responsible for the implementation of the AEOI. Information is available on the FTA website.

The list of all bilateral exchange relationships can be viewed on the OECD website.

To date, Switzerland has agreed to the AEOI with the following partner states:

Partner state               
Approval1 Entry into force2
Andorra 17.040  01.01.2018 
Anguilla 4,10 18.055 01.01.2019 
Antigua and Barbuda8 17.040 --3
Argentina 17.040  01.01.2018
Aruba8 17.040  --3
Australia 15.076 01.01.2017
Bahamas 4,10 18.055 01.01.2019
Bahrain 4,10 18.055 01.01.2019
Barbados 17.040  01.01.2018
Belize8 17.040  01.01.2018
17.040  01.01.2018
Brazil 17.040  01.01.2018
British Virgin Islands4 17.040  01.01.2018
Canada 16.057   01.01.2017 
Cayman Islands4 17.040  01.01.2018
Chile 17.040  01.01.2018
China (People's Republic) 17.040  01.01.2018
Colombia 17.040   01.01.2018 
Cook Islands8 17.040  01.01.2018
Costa Rica8 17.040  01.01.2018
Curaçao8 17.040  01.01.2018
European Union5 and 9 15.081   01.01.2017 
Faroe Islands 17.040  01.01.2018
Greenland 17.040   01.01.2018 
Grenada8 17.040  --3
Guernesey 16.057 01.01.2017
Hong Kong6 18.055 01.01.2018
Isle of Man 16.057   01.01.2017 
Iceland 16.057   01.01.2017 
India 17.040  01.01.2018
Indonesia 17.040  01.01.2018
Israel 17.040  01.01.2018
Japan 16.057 01.01.2017
Jersey 16.057 01.01.2017
Kuwait 4,10 18.055 01.01.2019
Liechtenstein 17.040  01.01.2018
Malaysia 17.040  01.01.2018
Marshall Islands4 17.040  --7
Mauritius 17.040  01.01.2018
Mexiko 17.040  01.01.2018
Monaco 17.040  01.01.2018
Montserrat8 17.040  01.01.2018
Nauru 4,10 18.055 01.01.2019
New Zealand 17.040  01.01.2018
Norway 16.057   01.01.2017 
Overseas municipalities of the NL (Bonaire, Saint Eustatius, Saba)10 18.055 01.01.2019 
Panama 8,10 18.055 01.01.2019
Qatar 4,10 18.055 01.01.2019
Russia 17.040  01.01.2018
Saint Kitts and Nevis8 17.040  01.01.2018
Saint Lucia8 17.040  01.01.2018
Saint Vincent and the Grenadines8 17.040  01.01.2018
San Marino 17.040   01.01.2018 
Saudi Arabia 17.040   01.01.2018 
Seychelles 17.040  01.01.2018
Singapore6 18.055  01.01.2018 
South Africa  17.040   01.01.2018 
South Korea  (South Korea) 16.057   01.01.2017 
Turks und Caicos Islands4 17.040   01.01.2018 
United Arab Emirates4  17.040  01.01.2019
Uruguay 17.040  01.01.2018

1:  Item number for parliamentary deliberations.

2: Entry into force on 1 January 2017/2018/2019 means that the financial institutions subject to the reporting requirement will collect account information concerning persons resident for tax purposes in the respective partner states from this date. This information collected in 2017/2018/2019 will be exchanged between the competent authorities for the first time in the autumn of 2018/2019/2020, respectively.

3: These states and territories do not meet the requirements of the global AEOI standard at present and have postponed the introduction of the AEOI.

4: These states and territories have declared themselves to be "permanent non-reciprocal jurisdictions", i.e. they will supply account information to the partner states on a permanent basis but will not receive such data.

5: The bilateral AEOI agreement with the EU applies for all 28 EU member states and is also applicable for the Åland Islands, the Azores, French Guiana, Gibraltar, Guadeloupe, the Canary Islands, Madeira, Martinique, Mayotte, Réunion and Saint Martin.

6: Switzerland has signed bilateral agreements with Hong Kong and Singapore regarding the introduction of the AEOI from 2018/2019. The agreements will be applied provisionally from 1 January 2018. Parliament will deliberate on the approval of the agreements in 2018.

7: These states have not yet submitted their partner state notifications. The AEOI will thus be activated at a later date.

8: These partner states must implement a Global Forum action plan on confidentiality and data security. There will be no reciprocal exchange of data until this action plan has been successfully implemented. Reporting Swiss financial institutions must nevertheless collect the relevant data from the time of activation of the AEOI and forward it to the Federal Tax Administration by the specified deadline. The FTA will transmit this data to the partner states only if they have satisfactorily implemented their action plan and an updated Global Forum review has confirmed this.

9: Cyprus and Romania must implement a Global Forum action plan on confidentiality and data security. The comments in note 8 apply also to these two countries.

10: Still has to be approved by Parliament. 

Further information

Last modification 11.09.2018

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