Federal Council adopts dispatch on AEOI with 12 further partner states
Bern, 18.05.2022 - During its meeting on 18 May 2022, the Federal Council adopted the dispatch on the introduction of the automatic exchange of financial account information (AEOI) with 12 further partner states. Entry into force is planned for 2023, with the first exchange of data taking place in 2024.
Of the 120 states and territories that are currently committed to the AEOI standard, 12 are not yet part of Switzerland's AEOI network. With the corresponding expansion of the AEOI network, Switzerland is helping to create a level playing field worldwide and effectively combat illicit financial flows.
Specifically, the Federal Council intends to exchange financial account information with the following additional partner states for the first time in 2024: Ecuador, Georgia, Jamaica, Jordan, Kenya, Moldova, Montenegro, Morocco, New Caledonia, Thailand, Uganda and Ukraine.
The corresponding federal decrees are to be submitted to Parliament for approval in the autumn and winter sessions this year, meaning that the AEIO could be activated with these partner states from 2023. Before an initial exchange of data with these partner states, the Federal Council will once again review whether they meet the requirements of the AEIO standard. It therefore intends to apply by analogy the review mechanism adopted by Parliament in December 2017 to all the new AEOI partner states mentioned above.
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