• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 10/15/2013

Switzerland - OECD agreement on tax administrative assistance is signed 

October 15: The Organisation for Economic Co-operation and Development (OECD) today announced that Switzerland has signed the OECD agreement on mutual administrative assistance in tax matters.

According to the OECD release, Switzerland is the 58th country to sign the OECD multilateral convention for international tax cooperation, and this action represents “an important step for Switzerland to resolve the issues identified…by the Global Forum on Transparency and Exchange of Information.”

The OECD multilateral convention allows for all forms of mutual assistance—e.g., exchange on request, spontaneous, tax examinations abroad, simultaneous tax examinations, and assistance in tax collection.

The OECD reported that automatic exchange is becoming the new international standard, and that Switzerland is adhering to an agreement that will allow it, in due time, to join the jurisdictions that will decide to exchange financial information automatically.

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