Financial accounts

With the help of the global standard for the automatic exchange of information on financial accounts (AEOI) tax transparency should be increased and cross-border tax evasion and should be prevented. 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.

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

The legal basis for the AEOI entered into force on 1 January 2017. The Federal Tax Administration (FTA) is responsible for the implementation of the AEOI.

The list of the activated bilateral exchange relationships of all states and territories can be viewed on the OECD website. The following list contains the AEOI partner states of Switzerland. It is kept regularly up to date and has priority over the list of the OECD: 

Partner state               
Approval1 Entry into force2
Albania 19.033 still open9
Andorra  17.040  01.01.2018 
Anguilla3 18.055 01.01.2019 
Antigua and Barbuda4 17.040 01.01.2019
Argentina 17.040  01.01.2018
Aruba5 17.040  01.01.2019
Australia 15.076 01.01.2017
Azerbaijan 19.033  01.01.2020 
Bahamas3 18.055 01.01.2019
Bahrain3 18.055 01.01.2019
Barbados 17.040  01.01.2018
Belize5 17.040  01.01.2018
Bermuda3
17.040  01.01.2018
Brazil 17.040  01.01.2018
British Virgin Islands3 17.040  01.01.2018
Brunei Darussalam5 19.033 01.01.2021
Canada 16.057   01.01.2017 
Cayman Islands3 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 Islands 17.040  01.01.2018
Costa Rica5 17.040  01.01.2018
Curaçao5 17.040  01.01.2018
Dominica5 19.033 01.01.2020
European Union6,7 15.081   01.01.2017 
Faroe Islands 17.040  01.01.2018
Ghana5 19.033  01.01.2020 
Gibraltar10 15.081  01.01.2017  
Greenland 17.040   01.01.2018 
Grenada5 17.040  01.01.2019
Guernesey 16.057 01.01.2017
Hong Kong8 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  01.01.2019
Japan 16.057 01.01.2017
Jersey 16.057 01.01.2017
Kazakhstan 19.033 still open9
Kuwait3 18.055 01.01.2019
Lebanon5 19.033  01.01.2020 
Liechtenstein 17.040  01.01.2018
Macao5 19.033  01.01.2020 
Malaysia 17.040  01.01.2018
Maldives 19.033  still open9
Marshall Islands3 17.040  01.01.2019
Mauritius 17.040  01.01.2018
Mexiko 17.040  01.01.2018
Monaco 17.040  01.01.2018
Montserrat5 17.040  01.01.2018
Nauru3 18.055 01.01.2019
New Zealand 17.040  01.01.2018
Nigeria5 19.033  01.01.2021
Niue5 19.033  still open9
Norway 16.057   01.01.2017 
Oman 19.033  still open9
Overseas municipalities of the NL (Bonaire, Saint Eustatius, Saba) 18.055  01.01.2019 
Pakistan 19.033  01.01.2020 
Panama 18.055 01.01.2019
Peru 19.033 still open9
Qatar3,4 18.055 01.01.2019
Russia 17.040  01.01.2018
Saint Kitts and Nevis 17.040  01.01.2018
Saint Lucia 17.040  01.01.2018
Saint Vincent and the Grenadines5 17.040  01.01.2018
Samoa5 19.033 01.01.2020
San Marino 17.040   01.01.2018 
Saudi Arabia 17.040   01.01.2018 
Seychelles 17.040  01.01.2018
Singapore8 18.055  01.01.2018 
Sint Maarten5 19.033 still open9
South Africa  17.040   01.01.2018 
South Korea 16.057   01.01.2017 
Trinidad and Tobago5 19.033 still open9
Turkey 19.033 01.01.2021
Turks und Caicos Islands3 17.040   01.01.2018 
United Arab Emirates3 17.040  01.01.2019
United Kingdom10 15.081   01.01.2017  
Uruguay 17.040  01.01.2018
Vanuatu3 19.033 01.01.2020

 1: Item number for parliamentary deliberations.

2: From the date of entry into force on 1 January of a certain year a jurisdiction is considered as a participating jurisdiction. Since then the financial institutions subject to the reporting requirement will collect – with the reservations of notes 3 and 4 – account information concerning persons resident for tax purposes in the respective partner jurisdictions from this date. This information will be exchanged between the competent authorities for the first time in the following year.

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

4: As the convention on the mutual administrative assistance in tax matters entered into force in 2019 in these partner jurisdictions, it is applicable to taxable periods beginning on or after 1 January 2020. Therefore, the first exchange of information will be carried out in 2021.

5: These partner jurisdictions 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 jurisdictions only if they have satisfactorily implemented their action plan and an updated Global Forum review has confirmed this.

6: The bilateral AEOI agreement with the EU applies for all 27 EU member states and is also applicable for the Åland Islands, the Azores, French Guiana, Guadeloupe, the Canary Islands, Madeira, Martinique, Mayotte, La Réunion and Saint Martin.

7: The exchange of data with Bulgaria and Romania is currently suspended, as these countries do not meet or do not comply with the confidentiality/data security requirements. These countries will not receive data from AEOI partners until the problems have been solved and the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) has confirmed the corrective measures.

8: Switzerland implements the AEOI with Hong Kong and Singapore on the basis of specific bilateral agreements. 

9: These states and territories do not yet fulfil the conditions for activating the AEOI. The rights and obligations arising from the agreements are therefore not effective. In particular, there is no obligation on the reporting financial institutions to collect financial account information and transmit it to the competent authority. Switzerland will only notify these states and territories as AEOI partners once they meet the requirements of the global AEOI standard and declare their interest in introducing the AEOI with Switzerland. The AEOI is always activated on 1 January of each year.

10: Following the United Kingdom's withdrawal from the EU, the situation with regard to  the AEOI is as follows:
- Until the end of the transitional period, EU agreements with third countries, such as the bilateral AEOI agreement between Switzerland and the EU, continue to apply to the United Kingdom.
- At the end of the transitional period, the AEOI will be implemented from 1 January 2021 on the basis of the multilateral AEOI agreements (Administrative Assistance Agreement in Tax Matters and MCAA).

 

 
 

Last modification 20.08.2020

Top of page

https://www.sif.admin.ch/content/sif/en/home/multilateral/steuer_informationsaust/automatischer-informationsaustausch/automatischer-informationsaustausch1.html