Federal Council adopts mandate for negotiations with United States on FATCA implementation
Bern, 29.08.2012 - During its meeting today, the Federal Council adopted the mandate for negotiations with the United States on a framework agreement on simplified implementation of FATCA. The relevant Federal Assembly committees approved the mandate. Corresponding negotiations will commence soon.
On 21 June 2012, Switzerland and the United States published a joint declaration containing key points for possible simplifications in implementing the Foreign Account Tax Compliance Act (FATCA). The aim of the negotiations is to ensure an optimum framework for the Swiss financial industry with regard to the implementation of FATCA and strengthening of the financial centre strategy.
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