Global Forum
The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) ensures that the international standards regarding transparency and the exchange of information for tax purposes are complied with and are implemented in a uniform manner internationally. Switzerland has been a member of the Global Forum since 2009 and is represented in the review groups and the steering group.
Exchange of information upon request
The Global Forum uses peer reviews to assess the application of the international standard on the exchange of information upon request (administrative assistance) in individual states. The Global Forum already rated Switzerland as largely compliant during its first round peer review in 2016, and issued some recommendations.
The Global Forum also rated Switzerland as largely compliant in 2020 in the second round of peer reviews. As with all Global Forum members, the second round involved stricter evaluation criteria, such as the quality of administrative assistance requests, group requests and the identification of beneficial owners.
For an overview of which countries have already completed the reviews, as well as their results, please click here: Overall rating following peer reviews of the standard for the exchange of information on request (exchange of information on request, EOIR).
Instead of a third round of reviews, the implementation of the exchange of information on request will be monitored by means of a monitoring process based on peer inputs and self-assessments. Accordingly, Switzerland will regularly inform the Global Forum about the status and progress of the implementation of the recommendations. From 2025, the Global Forum will publish the follow-up reports of the countries in abbreviated form.
Automatic exchange of information
2019, the Global Forum has started to perform comprehensive peer reviews concerning the automatic exchange of information on financial accounts (AEOI). Both the legal framework and AEOI effectiveness in practice are evaluated.
The review of the legal framework was completed in 2020. Switzerland's assessment in this regard was "in place but needs improvement". In the opinion of the Global Forum, exemptions from the reporting obligation for certain associations and foundations provided for in Swiss law are not standard-compliant, whereupon Switzerland submitted the related issues to the responsible OECD working group for consideration. In August 2022, the OECD Fiscal Affairs Committee approved a series of amendments to the Common Reporting Standard (CRS) that take Switzerland's concerns into account. Based on the revised standard, the Global Forum will conduct a review of the legal framework.
The first review of the effectiveness of the AEOI in practice was completed in 2022. In particular, it covered the operational framework for ensuring compliance with the obligations of the reporting financial institutions as well as the systems and processes for transmitting financial account information to the partner states. Switzerland received the best possible assessment "On Track" without recommendation.
Link to the AEOI Audit Report 2022
The second AEOI review cycle began in 2023 and is expected to last until at least the end of 2026. It focuses on the effective implementation of the AEOI, in particular with regard to the identification of reporting financial institutions and their correct application of due diligence and reporting procedures. As in the first round, all AEOI partner jurisdictions will be examined at the same time, in accordance with the revised methodology. For Switzerland, an on-site visit by the Global Forum's panel of experts took place in the summer of 2024. The results of this review cycle will be published at the end of the cycle, i.e. at the end of 2026 at the earliest.
As part of the AEOI on crypto-assets, following the adoption of the Crypto-asset Reporting Framework, the Global Forum is assisting jurisdictions with the implementation of this new standard, which should lead to the first exchanges from 2027.