Switzerland to exchange tax information with 33 more countries

The Swiss Federal Council confirmed in August 2019 that Switzerland would begin exchanging financial account information with 33 more partner countries in September.

The Federal Council approved a report on the review mechanism for standard-compliant implementation of the AEOI on 29 May. This was issued to the relevant parliamentary committees for consultation to receive recommendations of the partner states before the first exchange of data.

Although a number of questions had been raised during the consultation, both committees agreed to recommend the Federal Council to make data available to the following partner states – Andorra, Argentina, Barbados, Belize, Brazil, Chile, China, Colombia, Cook Island, Costa Rica, Curaçao, Faroe Islands, Greenland, Hong Kong, India, Indonesia, Liechtenstein, Malaysia, Mauritius, Mexico, Monaco, Montserrat, New Zealand, Russia, St Kitts & Nevis, Sint Maarten, St Vincent & the Grenadines, St Lucia, Saudi Arabia, Seychelles, Singapore, South Africa and Uruguay.

Switzerland automatically exchanged financial account information with 36 states and territories for the first time at the end of September 2018. The Federal Council will continue to evaluate the situation in the individual partner states as required by the review mechanism.

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