- Switzerland approved a draft decree to expand automatic exchange of information on financial accounts and implement the OECD’s Crypto-Asset Reporting Framework
- The decree introduces amendments to national legislation and regulations, effective January 1, 2026
- Updates to the Multilateral Competent Authority Agreement align national legislation with the addendum on Automatic Exchange of Financial Account Information under the Common Reporting Standard
- Implementation of the OECD’s Crypto-Asset Reporting Framework expands AEOI rules to include reporting requirements for crypto-assets
- Enhanced due diligence and compliance measures adopt Global Forum recommendations on Transparency and Exchange of Information for Tax Purposes and introduce criminal penalties for negligent violations
- Simplification of AEOI procedures eases the process for admitting new AEOI partner countries and defines the types of financial information subject to exchange
- The decree aims to align Switzerland’s financial reporting framework with international standards on tax transparency and information exchange
Source: globalvatcompliance.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
