Statement from the SBA regarding the Federal Council decision in favour of a further AEOI country list
- The SBA has long spoken in favour of the Automatic Exchange of Information (AEOI) as a global standard, and has made a constructive contribution at all levels of the implementation.
- The SBA takes note of the Federal Council’s decision announced today regarding a further list of around 20 countries with which Switzerland wishes to introduce the AEOI.
- During the pending discussions, the SBA expects Switzerland to insist on the OECD criteria and to ensure that the OECD will regularly monitor adherence to these criteria.
- Should any country not adhere to these rules, the Swiss government must exercise its right and immediately suspend the AEOI agreement with the country at fault.
- Also very important is that the playing field with the key competing financial centres is level. It would not be an acceptable outcome if Switzerland were the only country with an important financial centre to concede to an AEOI agreement with these countries.
- Furthermore, in the bilateral negotiations, Switzerland must have fair possibilities for regularisation of the past and receive the best possible market access.
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