In 2015, Switzerland signed Tax Information Exchange Agreements (TIEAs) with Belize and Grenada, which were put into effect in 2016 and applied from January 1, 2017. TIEAs establish the rules for exchanging information related to tax matters upon request from a contracting party. For more information on recent tax developments, see our article on the
Revised value added tax act to enter into force in Switzerland. This exchange of tax information can pertain to individuals, companies, or any other body of persons or entity treated as a body corporate for tax purposes.
TIEAs are instruments designed to facilitate administrative assistance on tax matters, alongside Double Taxation Agreements (DTAs), both of which are adopted by the Federal Council. Discover how Switzerland strengthens its financial position through the
Participation in IMFs NAB approved by Swiss Federal Council. While TIEAs and DTAs are almost equivalent instruments, they differ in that TIEAs and DTAs regulate solely the exchange of tax information upon request, while DTAs primarily eliminate or alleviate territorial double taxation of the same income arising in one territory and paid to residents of another. As a result, DTAs contain other material provisions in this regard.