ZURICH (Reuters) – Switzerland and the United States signed an agreement on Thursday on the mutual exchange of financial account data, the Swiss Federal Finance Ministry said.
Currently, Switzerland provides financial account data to the US unilaterally, but in the future it will also receive relevant information from the US as part of the automatic exchange of information, Byrne said.
The change is expected to come into force from 2027.
The Foreign Account Tax Compliance Act (FATCA) is a set of US regulations that apply worldwide to all countries as of January 1, 2014.