Another four tax information exchange agreements now in force

The tax information exchange agreements Switzerland with Andorra, Greenland, San Marino and the Seychelles have come into force. They will apply from 1 January 2016.

Following the completion of the corresponding ratification processes, the tax information exchange agreements (TIEA) have come into force with Andorra (27 July 2015), Greenland (22 July 2015), San Marino (20 July 2015) and the Seychelles (10 August 2015). The agreements will be applied from 1 January 2016.

On 4 April 2012, the Federal Council decided to enter into administrative assistance agreements in accordance with the international standard not only in the form of double taxation agreements (DTAs) but also via TIEAs. In principle, DTAs and TIEAs are equivalent instruments for concluding an administrative assistance clause in accordance with the international standard. Unlike DTAs, which are aimed primarily at avoiding double taxation and therefore contain other material provisions, TIEAs merely govern the exchange of information upon request.

To date, Switzerland has signed 51 DTAs and 9 TIEAs that are in line with the international exchange of information standard, and of these, 41 DTAs and 7 TIEAs are in force.