www.swissbanking.org
Swiss Bankers Association
Positions » Positions

Statement from the SBA regarding the joint statement from the US and Switzerland regarding a Framework for Cooperation to Facilitate the Implementation of FATCA

Basel, 21.06.2012

  • The SBA has long pointed to the difficulties presented by the implementation of FATCA and welcomes the start of negotiations between Switzerland and the US for a facilitated implementation.
  • The core element of the solution is that the necessary exchange of data will be made directly with the US tax authorities and not, as in the implementation solution for the five big European countries, by means of centralized data gathering. This better takes into account the particular characteristics of the Swiss financial centre.
  • Also positive are the possibility of simplified client identification and the preservation of QI-status for financial institutions considered as deemed compliant.





Write a comment


I have read the Terms of Use and agree to them.

The SBA reserves the right not to publish comments. This applies in particular to comments that are offensive, irrelevant or do not address the topic. It also applies to comments written in dialect or a foreign language (except for French, English and Italian). Comments posted under pseudonyms or obviously false will also not be published.



Marie-Claire Moinat
14.9.2012
Je suis intéressée par votre position car je suis en charge de la roadmap de nos logiciels bancaires en ce qui concerne le respect des contraintes de Conformité.
Contacts
Thomas Sutter
Head of communications

Tel. +41 61 295 92 06
Fax +41 61 272 53 82                    
E-Mail: thomas.sutter@sba.ch
Contacts
Sindy Schmiegel Werner
Head of Public Relations   

Tel. +41 61 295 92 15
Fax +41 61 272 53 82                      
E-Mail: sindy.schmiegel@sba.ch