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. But what does this really mean?
The Automatic Exchange of Information (AEoI) will follow in Switzerland in a few months’ time. After the publication of the draft AEoI ordinance in May 2016 and the draft AEoI guidelines on 3 August 2016, the legal bases for the AEoI are complete.
On 18 May 2016, the Swiss Federal Council launched the consultation period on the Ordinance on the Automatic Exchange of Information in Tax Matters (AEoI). The purpose of the AEoI Ordinance is to regulate further relevant details on how the AEoI is to be implemented.