Switzerland shares information on financial accounts with 104 countries
Switzerland has exchanged information on millions of financial accounts with 104 countries or received information from abroad in the current year.
However, the Federal Tax Administration (FTA) cannot provide any information on the total amount of assets involved.
New on the list of countries with which Switzerland cooperates within the framework of the automatic exchange of information (AEOI) are Kazakhstan, the Maldives and Oman, as the FTA announced on Monday.
There was no exchange with Russia. As a result of the attack on Ukraine in February 2022, the exchange was suspended in September 2022.
Switzerland exchanged information with 78 countries. It obtained information from 25 others but did not provide any, according to the FTA. Either the requirements in terms of confidentiality and data security were not met by these countries, or they voluntarily did not want to accept any information.
There are currently around 9,000 reporting financial institutions registered with the FTA. For example, banks, trusts and insurance companies collected data and transmitted it to Bern.Switzerland sent information on around 3.6 million financial accounts abroad and received information on 2.9 million accounts from partner countries.
The legal basis for implementing the AEOI came into force in Switzerland on January 1, 2017. Thanks to the exchange of information, tax authorities in the cantons can check whether taxpayers have correctly declared their financial accounts abroad.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
In compliance with the JTI standards
More: SWI swissinfo.ch 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 english@swissinfo.ch.