News: United Kingdom and Switzerland announced about Automatic Exchange

Automatic exchange of information - CRS between United Kingdom, Ireland and Switzerland

UK, Northern Ireland and Switzerland announced about ending of procedure, which was subscribed by Directive of EU about taxation of savings (Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments). Due to that it is possible now to exchange information about Taxes between parties in Automatic mode, according to Common Reporting Standard (CRS).

Due to UK’s Government commitment to CRS, taxpayers of the Country should represent all information, which can be autocratically exchanged to another Country.

Foregoing Agreement of 2011, which was concluded between Switzerland and UK and was implemented in 2013 lost its legal power.