On 18 November 2016, Switzerland and Brazil signed a joint declaration
on the introduction of the automatic exchange of information (AEOI) in
tax matters on a reciprocal basis. Like in the declaration with
Argentina, both countries intend to start collecting data in accordance
with the global AEOI standard in 2018 and to exchange it from 2019
onwards. State Secretary Jörg Gasser from the State Secretariat for
international Finance Matters (SIF) met with representatives of the
Brazilian authorities in Brasília. Here issues to do with market access
for financial service providers were also discussed.
The signing of the joint declaration with Brazil confirms Switzerland's
international commitment to implementing the AEOI standard. Switzerland
is thus strengthening its network of AEOI partner states. Brazil meets
in particular the high demands in terms of adherence to the principle of
speciality and the safeguarding of confidentiality for the data
delivered, which are prerequisites for the introduction of the AEOI.
From a legal viewpoint, the automatic exchange of information with
Brazil will be implemented based on the Multilateral Competent Authority
Agreement on the Automatic Exchange of Financial Account Information
(MCAA). The MCAA is based on the international standard for the exchange
of information developed by the OECD.
The Federal Council has authorised the Federal Department of Finance
(FDF) to conduct a consultation for the introduction of the AEOI with
Brazil and other countries. It will be initiated soon. Thereafter, the
corresponding federal decrees will be submitted to Parliament for
approval.
State Secretary Jörg Gasser from the State Secretariat for international
Finance Matters (SIF) ended his working visit to South America with a
visit to Brazil. Switzerland's financial market policy, market access
for financial service providers, the positions of partners in
international financial bodies and the possibility of structural reforms
were the main topics during the visit.
http://www.swisscam.com.br/switzerland-signs-joint-declaration-on-introduction-of-aeoi-with-brazil.html
