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.
Press release of the Swiss Federal Government of 14 December, 2018 – www.admin.ch