Federal Council adopts dispatch on more tax information exchange agreements

Bern, 07.10.2015 - Today, the Federal Council adopted the dispatch on a further two tax information exchange agreements, which will now be submitted to Parliament for approval. The agreements in question are with Belize and Grenada.

Tax information exchange agreements (TIEAs) - like double taxation agreements (DTAs) - are 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.

The TIEAs on which the Federal Council adopted the dispatch today were signed on 19 May 2015 (Grenada) and 10 August 2015 (Belize). The agreements have to be approved by Parliament before they can come into force. They are subject to an optional referendum. During the hearing procedure which followed the conclusion of negotiations, the cantons and the interested business circles expressed their support.

In addition to these two TIEAs, Switzerland has concluded seven other TIEAs with Andorra, Greenland, Guernsey, Jersey, the Isle of Man, San Marino and the Seychelles, which have already come into force.