Switzerland To Share Taxpayer Data With Hong Kong, Singapore

by Ulrika Lomas, Tax-News.com, Brussels

22 August 2019

Switzerland's agreements for the automatic exchange of financial account information with Hong Kong and Singapore have entered into force.

The agreement with Hong Kong was signed in July 2017 and entered into force on July 1, 2019. The agreement with Singapore was signed in October 2017 and entered into force on August 1, 2019.

Both agreements had been provisionally applied while parliamentary ratification procedures were finalized. The Swiss Parliament approved the agreements in the 2018 winter session and, after the deadline for holding optional referenda on the agreements passed in spring 2019, Switzerland exchanged notifications with Hong Kong and Singapore to bring them into force.

Switzerland will immediately exchange information on financial accounts collected in 2018 with Hong Kong, and exchange financial account data with Singapore from September 2019.

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