Switzerland removed from EU watch list and suspends AEOI with Bulgaria

On 10 October 2019, the Federal Tax Administration (“FTA”) in Switzerland announced that Switzerland meets the international tax standard and was, therefore, removed from the European Union (“EU”) watch list (Link). The information on the Swiss website is also available in German (Link-German),  French (Link-French) and Italian (Link-Italian). 

In addition, on 20 September 2019, the FTA suspended the Automatic Exchange of Information (“AEOI”) with Bulgaria due to challenges with Bulgaria’s data security (Link). Please also read PwC’s News Alert on the financial data leak in Bulgaria (Link-Blog) and the related OECD statement (Link-Blog). The information on the Swiss website is also available in German (Link-German),  French (Link-French) and Italian (Link-Italian). 

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