Switzerland to share banking information from 2018

Switzerland's commitment to a timeline eases some of the pressure from OECD and G20 countries Keystone

This content was published on October 29, 2014

Switzerland endorsed the new standard on automatic exchange of information designed to combat tax evasion. It also committed to activating the automatic information exchange of financial information from 2018 onwards.

Along with members of the Organisation for Economic Co-operation and Development (OECD) and G20, Switzerland endorsed the new automatic information sharing standard at the annual meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Berlin on Wednesday. This standardExternal link will give tax administrations around the world a very powerful new tool to tackle cross-border tax evasion and non-compliance.

The countries that have signed up to the standard are required to commit to an annual exchange of all financial information automatically on a reciprocal basis with all other participating countries. A group of 51 countries known as the Early Adopter Group have already agreed to initiate the first automatic information exchange from September 2017. Switzerland is not a member of this group despite being pressurised by countries like India to join it and commit to an early timeline.

Switzerland finally caved in and joined 35 other countries in committing  to initiate the first automatic information exchange by 2018. However, the parliament and if necessary, the Swiss people, will need to give their approval before the 2018 timeline can be deemed as final.

“The pressure on Switzerland has decreased. The schedule announced by the cabinet for the automatic exchange of information has been very well received by our peers,” Fabrice Filliez, head of the Swiss delegation told the ATS news agency.

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.