In December 2015, the Swiss Parliament ratified the implementation law on the automatic exchange of information (AEoI), the Swiss Federal Act on the International Automatic Exchange of Information in Tax Matters (AEoIA).
The AEoI regime requires financial institutions – particularly banks, but also insurers and investment firms – to gather financial information on clients with a tax liability in other countries and disclose this information annually to the tax office in the client's country of residence through a local authority. Unless a referendum is called against it, nothing will prevent the AEoI from taking effect as of 1 January 2017. How will Switzerland implement the AEoI and in what way has it used its maneuvering room for the implementation?
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