Swiss private banks have been on the defensive for a decade. We think the time has come to go on offense through commercially-driven transformation. By focusing on their strengths, and partnering for their non-core activities, Swiss private banks have a real opportunity to maximize value and grow again.
While the Federal Tax Administration found the Dutch group request to be permissible in fall 2015, the Swiss Federal Administrative Court on the other hand deemed it not permissible. However, upon its deliberations held on 11 September 2016, the Swiss Federal Supreme Court decided that this group request was acceptable after all.
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.