Improved client relationships – thanks to greater transparency

Whilst banking secrecy once protected your client's data, the multilateral agreement on the automatic exchange of information (AEOI) via the OECD's common reporting standard (CRS) now demands full transparency. The agreement defines which clients you must identify, and what tax information must be sent to whom. This not only creates an additional administrative burden, but also requires a deeper level of information and documentation on client relationships.



CRS/AIE – key considerations

Dual implementation structure

Early adopters have to implement the standard in 2017, which therefore requires the exchange of 2016 tax data. The second group of signatories – which includes Switzerland will start in 2018, and thus exchange 2017 tax data. So if your organisation includes foreign subsidiaries, you'll have to prepare sooner than with a purely domestic operation.

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Estimate the impact of CRS/AIE accurately

Most financial service providers are familiar with the FATCA provisions. Though this experience is helpful, CRS/AIE requirements are far more comprehensive.

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CRS/AIE has a strategic component

The new standard will force you to think about your core markets. The more markets you serve, the greater the administrative burden involved in meeting the transparency requirements.

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With you all the way

CRS / AIA raises a number of questions: Are you affected? Who needs to be reported? How do you communicate? Does CRS / AIA apply to all your products? Is your compliance still adequate? We can help you answer these questions and offer a comprehensive service package – from an individual case assessment to the development of an overall approach. You'll benefit from our broad experience in areas such as FATCA or the final withholding tax, and of course also from our extensive global network.


Our Expert

Christoph Schärer

Tax Partner, Zurich

+41 79 745 09 26