Automatic exchange of information (AEOI)


What is it about and which countries are involved?
The automatic exchange of information (AEOI) in tax matters is an international standard aimed at promoting transparency regarding financial assets held abroad and preventing cross-border tax evasion. To date, over 100 countries, including Switzerland, have adopted this standard. Specifically, the exchange takes place annually only with partner countries with which Switzerland has signed a bilateral agreement.



Who is affected by the AEOI?
All clients, both individuals or entities, as well as controlling persons of such entities, whose primary tax residence is in a partner jurisdiction (a country with which Switzerland has an agreement for the automatic exchange of information under the Common Reporting Standard – CRS)



What information is exchanged?
Personal information:

  • First and last name / Legal entity name;
  • Date of birth (for individuals only) and, if applicable, place of birth;
  • Full address;
  • Country of tax residence (all);
  • Tax identification number (TIN);
  • Jurisdiction(s) of TIN issuance;
  • Type of account holder (for legal entities only);
  • Role of the controlling person (for legal entities only)

Account and/or financial information:

  • Account or relationship number(s);
  • Name and address of the Bank;
  • Bank’s Global intermediary identification number (GIIN);
  • Gross total income from dividends, interest, and other financial income credited to the account;
  • Gross total proceeds from the sale or redemption of financial assets;
  • Total account balance or value at the end of the respective calendar year or at the time of closure (without deducting any liabilities);
  • Any distributions of funds to shareholders/beneficiaries of a professionally managed investment entity (PMIE) (reported by the reporting financial institution)

What are your rights as a client?
Under the AEOI Act and the Swiss Federal Data Protection Act (FADP), the client is entitled to the following rights:

  • With respect to Banca del Sempione SA: Clients may assert their full rights under the FADP. In particular, they may request details of the data reported to the Swiss Federal Tax Administration (FTA). Upon request, Banca del Sempione SA must provide a copy of the information submitted. In this regard, it should be noted that the information collected and transmitted may differ from the data that is relevant for the client’s tax situation. Clients may also request that any inaccurate data be corrected in the systems of Banca del Sempione SA.
  • With respect to the FTA: Clients may only assert their right to be informed and to request the correction of inaccurate data caused by transmission errors. If the data transmission causes the client undue harm due to a lack of legal safeguards in the receiving country, the client is entitled to the rights provided under Article 25a of the Swiss Federal Act on Administrative Procedure. However, clients do not have the right to inspect files held by the FTA. Furthermore, the right to block the transmission of personal data to the FTA is excluded. Clients may not request a review of the legality of the data transmission abroad, nor can they demand the blocking or deletion of data processed without a sufficient legal basis.

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