New standards have been adopted at international level with regards to taxation, in particular, the automatic exchange of information (AEOI). The AEOI regulates the exchange of information between the Tax administrations of the different participating states, which will be from now onwards done automatically. In this context, Switzerland will transfer to the participating states with whom it has concluded an agreement (hereinafter referred to as the "State / States"), a series of information on bank accounts held by customers with their tax domicile in one of these States. The AEOI applies both to natural persons and legal persons.
Up to now, Switzerland has concluded an AEOI agreement with, amongst others, the 28 Member States of the European Union. For these 28 Member States, the AEOI replaces the EU taxation of savings agreement which is repealed as of January 1, 2017. The treaties with the United Kingdom and Austria on the withholding tax also disappear.
In addition, Switzerland has concluded AEOI agreements with other countries and has the intention to expand this list. You may consult at any time the latest list of agreements on the following link:
The AEOI came into force in Switzerland on January 1, 2017. The first data will be collected in 2017 and communicated to the States as from 2018 onwards.