Statement from the SBA regarding the positive rating of Switzerland in the OECD peer review

In General

The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) of the OECD has completed Phase 2 of the peer review of Switzerland and Switzerland has been given the overall rating of “largely compliant”. Only with regards to the two elements bearer shares and how to deal with stolen data has Switzerland been rated “partially compliant”.

SBA’s Position

  • The Swiss Bankers Association (SBA) notes positively that Switzerland has completed the peer review and received a good rating by the Global Forum.
  • This good rating reflects that Switzerland made progress in recent years with the implementation of the international standard for the exchange of information on request and that Switzerland is compliant with international standards.
  • The Global Forum focuses on various aspects in the peer review process, amongst others on the dealing with stolen data. The SBA has more than once expressed it‘s concerns regarding the constitutional aspect of this discussion. Yet, the Swiss Bankers Association recognizes that the amendments as the federal council put them in the message sent in June, were the ultima ratio to complete the peer review and get a good rating.