Switzerland updates CRS guidance

On 14 May 2019, Switzerland released an updated version of the technical guidance for the Common Reporting Standard (“CRS”) (Link-German).This Guidance provides background on the automatic exchange of information in Switzerland and details on the scope of the Common Reporting Standard (“CRS”), financial institutions, reportable financial accounts, due diligence requirements and the reporting process. It specifically describes and specifies the requirements that Swiss financial institutions must comply with when transmitting data.

The guidance is also available in French (Link-French) and Italian (Link-Italian).

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