Switzerland: AEoI 2017 data to be exchanged | KPMG | US

Switzerland: AEoI 2017 data to be exchanged in September 2018

Switzerland: AEoI 2017 data to be exchanged

The Automatic Exchange of Information (AEoI) has been in force in Switzerland since 1 January 2017. This means that Switzerland will start exchanging 2017 data with the EU Member States, Australia, Guernsey, Isle of Man, Iceland, Japan, Jersey, Canada, Norway, and South Korea for the first time in September 2018.

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In 2019, Switzerland will most likely start exchanging 2018 data with at least 41 additional countries. 

Anyone directly holding an account with a Swiss financial institution or who is deemed a controlling person of a passive Non-Financial Entity (NFE) (e.g., a trust, foundation or domiciliary company) in the form of a beneficiary, settlor, protector or similar will be subject to the AEoI rules. Persons resident in a Swiss AEoI partner state will have to be reported. Switzerland will probably report 2018 data to more than 80 countries in 2019.

 

Read a February 2017 blog item prepared by the KPMG member firm in Switzerland

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