When will the AEOI be implemented in Switzerland?

Switzerland will implement the AEOI on 1 January 2017. From 2018, the Swiss Federal Tax Administration (SFTA) will report the relevant information to the respective tax authorities.

Which countries has Switzerland initiated AEOI agreements with?

To date, Switzerland has initiated AEOI agreements with the following countries:

• All 28 EU countries
• Norway
• Iceland
• Canada
• Australia
• South Korea
• Japan
• Guernsey
• Isle of Man
• Jersey
• These are expected to enter into force on 1 January 2017. Agreements will be made with additional countries over the next few months and years. 

What does AEOI mean for the withholding tax agreement with the United Kingdom as well as with Austria?

Austria and the United Kingdom have decided to participate in the AEOI. Customers resident in Austria and the United Kingdom will no longer have the option of anonymous withholding as from 1 January 2017.‎

Which financial institutions are affected by AEOI?

AEOI affects all financial institutions in Switzerland. They are obligated by law to implement AEOI from 1 January 2017.

Are you affected?

From 1 January 2017, Zürcher Kantonalbank will be obligated to identify the tax residence of its customers. You are therefore also affected (see "Next steps – What do you need to do?").

When will you be reported?

Please refer to "Reports – Will you be reported?" 

Will you be reported?

Under the AEOI, all customers who do not have their tax residence in Switzerland, but in a country that has concluded an AEOI agreement with Switzerland will be reported (please also see "Which countries has Switzerland initiated AEOI agreements with?").

Examples:

Will Swiss nationals living abroad be reported?

If you are a Swiss national living abroad and have your tax residence in a country that has concluded an AEOI agreement with Switzerland, you will be reported (see examples under "Will you be reported?").

What information will the bank report?

Customer details:

• Name
• Address
• Date of birth
• TIN (Taxpayer Identification Number)

Account number

• Financial information:
• Account/custody account balance
• Gross investment income, including interest and dividends
• Gross capital gains

Who will the bank report your information to?

To the Swiss Federal Tax Administration (SFTA). The SFTA will pass this information on to the tax authorities of the relevant country (please see "General – Which countries has Switzerland initiated AEOI agreements with?").

Will banking secrecy remain guaranteed in Switzerland?

Yes.

What do you need to do?

Nothing. If we require further information, we will notify you.