TIEA between Switzerland and Norway enters into force

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The tax exchange of information agreement (TIEA) between Norway and Switzerland has been entered into force on 1 January 2017 through an exchange of notes (EoN). It applies from the same date of its entry into force. The agreement was signed on 26 October 2016 by Switzerland and on 13 December 2016 by Norway. The agreement is projected to ensure that Norway and Switzerland will be able to start the automatic exchange of financial account information according to the OECD Automatic Exchange of Information Agreement of 2014, base on the Council of Europe – OECD Convention on Mutual Administrative Assistance in Tax Matters (MAA) of 1988. This exchange of information agreement (2014) has been amended by the 2010 protocol and approved by the Norway – Switzerland Joint Declaration on Automatic Exchange of Information of 2016.

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