Swiss Adopt OECD Tax Recommendations, Excluding Non-Profits

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The Swiss Federal Act on the International Automatic Exchange of Information in Tax Matters, has been adopted by Switzerland’s Federal Council regarding the dispatch on amending with the aim of implementing the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Notably, non-profit associations and foundations will not be included in its released international agreements for the exchange of account information.