It is reported that Switzerland and the EU initialed a draft agreement on the exchange of tax information on 19 March 2015. Under this agreement the account data of taxpayers would be collected from 1 January 2017. This data would include the name, address, tax identification number and date of birth of the taxpayer together with extensive financial information including account balances. The information would be exchanged automatically in respect of EU and Swiss taxpayers, with the first automatic exchange of information taking place in 2018.
The agreement is expected to be signed in the coming weeAutoks and would enter into force from 1 January 2017.
