Double taxation

INCOME AND CAPITAL FROM INDIVIDUALS LIVING ABROAD REGARDING THE AIA AND THE ADMINISTRATIVE ASSISTANCE

From the beginning of 2018 the Swiss tax authorities will receive the bank, insurance and shareholding information of individuals resident in Switzerland during 2017. The Swiss authorities can also request information from the countries with a double taxation agreement with administrative assistance for previous years.

AEOI(German AIA)

The financial institutions (and insurances) transfer information to the national tax authorities, who automatically forward the information to the authorities in the investor’s country of origin.

Regarding individuals the following information will be transmitted:

• Name and address
• Tax identification number (TIN: participant identification number), with Swiss residents this is the AHV-number
• The investor’s name and date of birth
• Interests and dividends
• Income from specific insurance contracts
• Account balance and revenue from selling financial assets

I. States with first data exchange for 2017

Aland, Australia, Austria, Azores, Belgium, Bulgaria, Canada, Canary Islands, Croatia, Czech Republic, Denmark, Estonia, Finland, France, French Guiana, Germany, Gibraltar, Greece Guadeloupe, Guernsey, Iceland, Ireland, Isle of Man, Italy, Hungary, Japan, Jersey, Latvia, Lithuania, Luxembourg, Madeira, Malta, Martinique, Mayotte, the Netherlands, Norway, Poland Portugal, Réunion, Romania, Sint Maarten, Sweden, Slovakia, Slovenia, Spain, South Korea, United Kingdom, Cyprus.

Data exchange with Bulgaria and Romania is currently suspended (as of Jan. 1, 2021) because these countries do not meet or do not comply with the confidentiality/data security requirements.

For the United Kingdom, the AEOI will be implemented from January 1, 2021 (withdrawal from the EU) on the basis of the multilateral AEOI agreements.

II. States with first data exchange for 2018

Andorra, Argentina, Barbados, Bermuda, Brasilia, British Virgin Islands, Cayman Islands, Chile, Faereo Islands, Greenland, India, Israel, Mauritius, Mexico, Monaco, New Zealand, San Marino, Seychelles, Singapore, South Africa, Turkus and Caicos Islands, Uruguay, Aruba, Belize, China, Colombia, Cook Islands, Costa Rica, Curacao,  Hong Kong, Indonesia, Liechtenstein, Malaysia, Montserrat, Russia,  Saudi Arabia, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines.

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

III. States with first data exchange for 2019

Anguilla**, Antigua und Barbuda°*, Aruba°°,Bahamas**, Bahrain**, Katar** - °*, Kuwait*°*, Marschallinseln*, Nauru**, Panama°°, Vereinigte Arabische Emirate**, Überseegemeinden der Niederlande (Bonaire, Saint Eustatius, Saba).

°* Da das Amtshilfeübereinkommen für diese Staaten erst im Laufe des Jahres 2019 in Kraft treten wird, ist es nur auf Steuerperioden anwendbar, die am 1. Januar 2020 oder nach diesem Zeitpunkt beginnen. Der erste Datenaustausch wird somit erst 2021 durchgeführt werden.

IV. countries with first data exchange for 2020

Azerbaijan, Dominica°°, Ghana°°, Lebanon°°, Macao°°, Pakistan, Samoa°°, Vanuatu**

V. States with first data exchange for 2021

Albania°°, Brunei Darassalam°°, Nigeria°°, Peru, Turkey

** These states and territories have declared themselves as "permanent non-reciprocal jurisdictions". That is, they will provide account information to partner states but will not receive data.

°° These partner states must implement a Global Forum action plan on confidentiality and data security. As long as this action plan is not successfully implemented, no reciprocal data exchange will take place. Reporting Swiss financial institutions must nevertheless collect the relevant data from the moment the AEOI is activated and forward it to the Swiss Federal Tax Administration within the specified period. The latter will only transmit this data to the partner states if they will have implemented their action plan in a satisfactory manner and an updated audit of the Global Forum will confirm this.

Switzerland has concluded double taxation agreements with administrative assistance with all European countries. The automatic information exchange (AIA) from 2017 between Switzerland and the EU as well as with other countries will be executed in the first six months of 2018. In the following year more countries will join. In addition, Switzerland can receive all relevant tax data from up to seven years prior to 2018 from several countries with double taxation agreement with administrative assistance.