Switzerland and Turkey to start exchange information under CRS in 2022

On March 3rd, the Council of State voted for the introduction of  automatic exchange of information  with Turkey. A first exchange is planned to take place in 2022.

After having put the decision regarding the introduction of automatic exchange of information with Turkey   in December 2019, the discussions were  resumed  in February 2020. Today, on the 3rd of March, the Council of State voted in favour of activating the exchange agreement with Turkey. The State Secretariat for International Finance (SIF)  confirms  that a first exchange is planned to take place in 2022, covering the reporting period 1st of January to 31st of December 2021.

Please do not hesitate to get in touch with our  CRS and FATCA expert s if you have any questions about how this might affect you or your structure. We are happy to provide you with a full impact analysis on the current situation, as well as any future plans.