On 4 February 2016, Switzerland and Canada signed a joint declaration on the introduction of the automatic exchange of information (AEOI) in tax matters on a reciprocal basis.
The two countries intend to start collecting data in accordance with the global AEOI standard in 2017 and first transmit data in 2018, after the necessary legal basis has been created in both countries.
The automatic exchange of information between the two countries 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. To date, almost 100 states have undertaken to adopt the standard and to start exchanging information on this basis for the first time in 2017 or 2018.Back to News
Cyprus Self-Managed Alternative Investment Funds with Limited Number of Persons (AIFLNP) - Compliance Calendar Have you ever been in a situation where although you have the competency to perform a task you are unsure what the totality of the task might be? This situation can arise when numerous regulatory requirements are imposed on an organisation and further exacerbated by the almost exponential increase in the velocity of change of these requirements.Read more