BERN: The Swiss Federal Council has submitted to Parliament dispatches on the implementation of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA).
Developed by the Organisation for Economic Cooperation and Development (OECD) and the Council for Europe, the Multilateral Convention on Mutual Administrative Assistance in Tax Matters establishes a comprehensive multilateral framework for the exchange of information and assistance in tax collection. Switzerland signed the Convention in October 2013. The dispatch makes provision for three forms of information exchange: upon request, spontaneous, and automatic.
The second proposal submitted to Parliament concerns the MCAA, which was signed by Switzerland in November 2014. The new Federal Act on the International Automatic Exchange of Information in Tax Matters (AEOI Act) contains provisions on the organizational, procedural, judicial, and criminal requirements associated with the MCAA.
