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The alpine nation has begun collecting data on Swiss bank accounts held by citizens of some 104 countries, and will begin sharing it with select countries from 2018.
The shift in policy comes after the ratification of the ‘Multilateral Convention on Mutual Administrative Assistance in Tax Matters,’ which came into force on January 1.
From now on, countries with which Switzerland has signed agreements no longer need to request information on their citizens’ Swiss bank accounts. Financial data will be handed over automatically