In order to help tax authorities across the globe tackle tax evasion, the Organisation for Economic Cooperation and Development (OECD) and the G20 together developed a regulatory framework for the Automatic Exchange of Information in Tax Matters (AEOI), also known as the "Common Reporting Standard" or "CRS". Around 100 jurisdictions have already implemented the AEOI, including Switzerland and all other major financial centres. The AEOI requires financial institutions (such as banks, brokers, insurance companies and asset managers) to gather information about the tax status of their clients, and in cases where the client is resident in a jurisdiction with which Switzerland has signed an AEOI agreement, the Swiss financial institution will be required to report information on the client's identity as well as certain account information to the Swiss Federal Tax Administration, which will subsequently exchange the information with the tax authorities in the partner jurisdiction.
The AEOI will potentially impact non‑resident account holders, including individuals and entities, regardless of legal form (including trusts, foundations and partnerships). The reporting of information under the AEOI is generally not applicable if you are resident in the same jurisdiction as the financial institution, meaning that a Swiss resident will not be reported by a Swiss financial institution, although the Swiss financial institution will nonetheless gather some information relating to that Swiss resident when applying the AEOI.
If you have any questions about your general tax situation or need advice about the implications for you under the AEOI, please refer to your tax advisor, since we neither advise our clients on tax matters nor recommend external tax advisors or put them in touch (no external hotline). If you have any questions on the information which we request from you for the purposes of the AEOI, our Customer Care Centre is available to assist you.
Please refer to the FAQs below for more details. This notice is for information purposes only and should not be interpreted as advice of any type, especially of a fiscal nature. It may be changed at any time, particularly following a change in the law or in the practice of the relevant authorities.