The Road to Tax Transparency in Switzerland

Hans-Joachim Jaeger; Katharina Manz

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Chapter 8 The Road to Tax Transparency in Switzerland

In: Switzerland and the EU

Authors:

Hans-Joachim Jaeger

Hans-Joachim Jaeger
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Katharina Manz

Katharina Manz
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Type:: Chapter

Pages:: 219–254

DOI:: https://doi.org/10.1163/9789004529984_010

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Abstract

In recent decades, few initiatives have changed the tax world and the relationship between financial service providers and their clients more than increasing transparency. Switzerland, still the largest offshore location in the banking and financial services sector, was and is particularly affected by these developments. The banks are caught between legally anchored bank-client confidentiality and the obligation to provide client data and account movements to foreign tax authorities if such clients are domiciled abroad. Such obligations are regulated by international treaties and directly shape Switzerland’s relationship with its foreign partner countries. After a general introduction to the topic of bank-client confidentiality, the following article examines the development of transparency initiatives internationally and in Switzerland, starting with the Qualified Intermediary (QI) system in 2001, the EU taxation of savings income and the final withholding tax, and culminating in the automatic exchange of information, the OECD Base Erosion and Profit Shifting (BEPS) initiative and the EU initiatives on mutual administrative assistance. The authors present the historical development of the initiatives and provide an overview of how they work.

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Switzerland and the EU

A Challenging Relationship

Series: Studies in EU External Relations, Volume: 20

E-Book ISBN:: 9789004529984

Publisher:: Brill | Nijhoff

Print Publication Date:: 01 Mar 2023

Subjects
- International Law

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Chapter 8 The Road to Tax Transparency in Switzerland

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Switzerland and the EU

A Challenging Relationship

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