Switzerland and Singapore have inked a bilateral automatic exchange of information agreement in tax matters, under which the two countries will be mandated to share non-resident financial account data with the tax authorities in the account holders’ country of residence.
The agreement would apply from the start of next year, with data exchange expected to start from 2019, pending go-ahead from the Swiss Parliament.
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At the same time, the Monetary Authority of Singapore and the Ambassador of Switzerland to Singapore Thomas Kupfer also signed a pact for cooperation in the financial services space.
Earlier this month, the Switzerland government signed a similar agreement with the Indonesia government.
Last month, the Swiss Federal Council also ratified automatic information exchange protocol with 41 jurisdictions.
