Further to our Newsletter of 10 July 2019 (see attached), Switzerland and the U.S. have exchanged the instruments of ratification of the Protocol to the Swiss-U.S. Double Tax Treaty (DTT), which has entered into force with effect from 20 September 2019. This has the following key implications for Swiss Financial Institutions (SFI).
After being blocked for a decade, the 2009 Protocol to amend the Swiss-U.S. Double Tax Treaty (“Treaty”) is likely to be subject to a vote in the U.S. Senate during August. Read about the key consequences for Swiss Financial Institutions (“SFI”) in this article.
Switzerland plans to add 19 new jurisdictions to its list of reportable jurisdictions for AEoI purposes, with first reporting in 2021.