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Australia and Switzerland Sign Joint Declaration on Automatic Exchange of Information — Orbitax Tax News & Alerts

On 3 March 2015, officials from Australia and Switzerland signed a joint declaration on automatic exchange of information (AEOI). The declaration sets out the commitment to implement legislation that will allow for the automatic exchange of financial account data between the two countries beginning in 2018.

The declaration is the first of its kind between the two countries, and is in line with the OECD AEOI common reporting standard, which was released in July 2014 and has been endorsed by over 90 countries.