Automatic exchange of information on financial accounts - Federal Council publishes the audit report on 33 partner states
Alexandra Takhtarova
On 20 May 2020, the Federal Council submitted the audit report on the standard-compliant implementation of the Automatic Exchange of Information to the relevant parliamentary commissions (WAK-N and WAK-S) for consultation. The report examined compliance by the partner states with the audit criteria of the Federal Decree on the Audit Mechanism of 6 December 2017, such as whether data confidentiality is guaranteed.
A total of five new partner countries, with whom data will be exchanged for the first time this year, and 27 partner countries, including India, Russia and China, with whom data has already been exchanged for the first time, were reviewed. The Federal Council concludes that all partner states comply with the criteria and that information on financial accounts will be sent to them in September 2020 as agreed.
The test report is available here.
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