The Federal Council of Switzerland confirmed the agreement on tax information exchange (TIEA) with Andorra, Greenland, San-Marino and Seychelles. In accordance to the official press-release of the Council, the document was sent to the Parliament for ratification.
By the current moment Switzerland has already signed the agreements on tax information exchange with Greenland– on 7th March, with Andorra– on 17th March, with San-Marino—on 16th May, with Seychelles—on 26th May. At that, the Parliament of each country should ratify the agreement before it comes into effect. Besides, in a number of cases the agreement presupposes optional referendum.
The Federal Council informed that in the result of hearing procedures all cantons as well as interested parties expressed their support of the issue. The press-release emphasizes that the international standard is preserved in all agreements on tax information exchange