The automatic exchange of information – Part 2: what information is exchanged and for what purpose?

Since 2017, Switzerland has been enhancing global tax honesty with the automatic exchange of information; Findea explains which data are relevant.

2017

The automatic exchange of information – Part 2: what information is exchanged and for what purpose?

Since January 1, 2017, the legal foundations have been in place in Switzerland that enable automatic exchange of information. This introduces a global standard that is intended to help combat cross-border tax evasion. Findea explains in a three-part series what exactly this means. In this second part, the information that is exchanged and how it can be used will be shown.

What information is exchanged?

‍As outlined in Part 1, the automatic exchange of information is meant to prevent cross-border tax evasion. For this to be successful, the actual economic beneficiary must be identified for each account. Data from both natural and legal persons is collected. This includes:

More blog posts

In-depth insights, inspiring success stories and practical tips for entrepreneurs - discover more in our other articles.

Withholding Tax in Switzerland: What Private Individuals Need to Know

The reference tax is a special value-added tax in Switzerland for foreign services, relevant when the provider is not locally subject to VAT. Private individuals must declare and pay this themselves if services exceed CHF 10,000 per year.

Abschaffung des Eigenmietwerts

Der Eigenmietwert, ein umstritten konzipiertes fiktives Einkommen für Eigenheimbesitzer seit 1934, bleibt trotz neuer Abschaffungsbestrebungen bestehen. Diese Steuer trägt zu staatlichen Einnahmen bei, jedoch gibt es Kritik und Debatten über dessen Gerechtigkeit und Auswirkungen auf den Tourismus.

Self-reporting without penalty for natural persons

A voluntary disclosure in Switzerland allows for the subsequent disclosure of undeclared income to avoid criminal consequences, but only once and under specific conditions. Completeness, unawareness of prior information from the authorities, and payment of back taxes are essential for a penalty-free resolution.