AEoI - Switzerland and Macau plan a first data exchange in 2021
The Swiss Parliament on December 10 announced, that Switzerland has extended his network to exchange financial account information under the Automatic Exchange of Information in tax matters (#AEoI) with additional 18 jurisdictions SDA Announcement (in German)
The Swiss Council of States approved alongside #Macau to exchange financial account information with Albania, Azerbaijan, Brunei, Dominica, Ghana, Kazakhstan, Lebanon, the Maldives, Nigeria, Niue, Pakistan, Peru, Samoa, Sint Maarten, Trinidad and Tobago, Vanuatu and Oman.
The agreement to exchange data under AEoI with the Turkey has been suspended
The first exchange of financial account information under #AEoI is planned in #2021.
Financial institutions and Insurance companies located in Macau should review and potentially adapt their existing Client Due Diligence procedures (#CDD) and client documentation requirements supporting the identification of their account holder / beneficial owner having a tax residency in Switzerland.
If you like to find out how we can assist you to meet your reporting obligations under AEoI please feel free to contact us.