On November 18, 2015 the Swiss Federal Council adopted a dispatch on the introduction of the automatic exchange of information (AEOI) in tax matters with Australia and submitted the dispatch to the Swiss Parliament for approval. The Federal Decree on the introduction of the AEOI with Australia was the subject of a consultation procedure which ran from April 29 to August 19, 2015. More information on this consultation can be found in our article from April 29, 2015.
According to a press release published on the website of the Swiss Federal Department of Finance (FDF), provided the approval process is completed on time in Switzerland and in Australia, the agreement between Switzerland and Australia should come into force on January 1, 2017, and the first sets of data should be exchanged from 2018. Switzerland and Australia signed a corresponding joint declaration on March 3, 2015.
According to the press release, from a legal viewpoint, the two countries will exchange information automatically based on the Multilateral Competent Authority Agreement (MCAA). According to the press release, this proposal is currently being discussed by the Swiss Parliament.
Click on the language of your choice to be forwarded to the message on the introduction of the automatic exchange of information on financial accounts with Australia (German or French).
Click on the language of your choice to be forwarded to the Federal Decree on the introduction of the automatic exchange of information on financial accounts with Australia (German, Italian or French).
Click on the language of your choice to be forwarded to the Report of the Federal Department of Finance on the consultation results for the approval of the federal decree on the introduction of the automatic exchange of information on financial accounts with Australia (German, Italian or French).
Click here to be forwarded to the press release as issued by the Swiss FDF on November 18, 2015.
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