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The Conference of Cantonal Finance Directors (FDK) has published its position on the consultation on the implementation of the recommendations of the Global Forum on the transparency of legal entities and the exchange of information in the report on Phase 2 Switzerland.

The Conference of Cantonal Finance Directors (FDK) has published its opinion on the consultation on the multilateral agreement on the implementation of tax treaty related measures to prevent the reduction and transfer of profits (BEPS Convention) and on the Protocol of Amendment to the Double Taxation Convention between Switzerland and the United Kingdom.

On 4 January 2018, the Finance Directorate of the Canton of Zurich issued a media release in which the number of submissions, the subsequently declared assets and the average yield per case of the voluntary declarations submitted in 2017 are published.

On 19 December 2017, the article "Administrative and legal assistance in tax matters" was updated from the Federal Tax Administration (FTA) tax information dossier.

On 5/6 December 2017, both the Council of States and the National Council approved the introduction of the automatic exchange of information (AIA) on financial accounts with 41 partner states (from 2018/2019) (see our contribution of 9 December 2017). As the National Council has waived its right to refer the Federal Decree on the AIA with New Zealand back to the Federal Council, the Council of States had to make a formal decision on this agreement again on 12 December 2017.

On 5-6 December 2017, both the Council of States and the National Council approved the introduction of the automatic exchange of information (AIA) on financial accounts with 41 partner states (from 2018/2019).

In its meeting on 5 December 2017, the Council of States adopted a motion on strengthening individual legal protection in connection with the automatic exchange of information (AIA) on financial accounts.

On 20 November 2017, the Federal Tax Administration (FTA) published an information sheet on tax identification numbers for automatic information exchange (AIA).

On 20 November 2017, the Swiss Federal Tax Administration (FTA) published the updated circular letter 24 concerning collective investment schemes as subject to withholding tax and stamp duty.

At its meeting on 18 October 2017, the Federal Council decided to bring the Federal Act on the International Automatic Exchange of Country-Based Reports by Multinational Corporations (ALBAAG) into force on 1 December 2017 (see also our contribution of 1 October 2017 regarding ALBAV). The entry into force of the multilateral agreement of the competent authorities on the exchange of country-specific reports of 27 January 2016 (ALBA agreement) is also scheduled for December.

On 13 October 2017, the Federal Council sent the agreements on the introduction of automatic information exchange on financial accounts (AIA) with Hong Kong and Singapore for consultation. Switzerland signed the agreement with Hong Kong on the same day, the agreement with Singapore was signed on 17 July 2017 and the consultation period will last until 27 January 2018.

On 27 September 2017, the National Council discussed the introduction of the automatic exchange of information on financial accounts with 41 partner states from 2018/2019.

On 15 September 2017, the Federal Tax Administration (FTA) published its position in connection with the effects of the AIA on (unpunished) voluntary declarations.

On 17 July 2017, Switzerland and Singapore signed an agreement on the automatic exchange of information in tax matters.

Switzerland and France have reaffirmed their intention to maintain effective cooperation in the tax field based on the OECD standard.

On 6 July 2017, the Federal Tax Administration (FTA) published a draft technical guidance document on the standard for the automatic exchange of information on financial accounts (AIA).

At its meeting on 16 June 2017, the Federal Council adopted the dispatch on the introduction of automatic information exchange (AIA) with 41 states and territories.

In the final vote on 16 June 2017, the Council of States and the National Council adopted the Federal Decree on the approval of the Multilateral Agreement between the competent authorities on the exchange of country-specific reports (ALBA Agreement) and the associated Implementation Act (ALBA Act).

At its meeting on 6 June 2017, the Council of States approved the Federal Decree on the approval of the Multilateral Agreement between the competent authorities on the exchange of country-specific reports (ALBA Agreement) and the associated Implementation Act (ALBA Act) in the version approved by the National Council, thereby resolving the differences between the two chambers of parliament.

At its meeting on 31 May 2017, the National Council approved the Federal Decree on the approval of the Multilateral Agreement between the competent authorities on the exchange of country-specific reports (ALBA Agreement) and the associated Implementation Act (ALBA Act), with certain differences to the Council of States (First Council).

The Federal Council rejects the direct counter-proposal to the popular initiative "Yes to the protection of privacy". This is the result of the Federal Council's statement to the Economic Commission of the Council of States (WAK-S), which the Federal Council adopted at its meeting on 5 April 2017.

A request for assistance from a State may not be acted upon if it violates the principle of good faith, in particular if it is based on information obtained through offences punishable under Swiss law, such as the theft of data.

At its meeting on 16 March 2017, the Council of States approved the multilateral agreement on the exchange of country-specific reports (ALBA agreement; Federal Council business 16.078) by 37 votes to 3 and the Implementation Act by 40 votes to 1 with 2 abstentions. The Council of States is the first body to deal with the matter. In a next step, the business will be discussed by the National Council.

According to a press release issued by the FTA on 20 March 2017, the first function for automatic information exchange (AIA) is available on the ESTV SuisseTax portal. Reporting Swiss financial institutions can fulfil their registration obligation there.

The Federal Tax Administration (FTA) was allowed to provide administrative assistance to the Austrian Ministry of Finance on the basis of the double taxation agreement between Switzerland and Austria. The Federal Administrative Court rejects an appeal lodged against it by decision (A-6394/2016) of 16 February 2017.