Last month Switzerland strengthened the fight against tax evasion by signing the Multilateral Competent Authority Agreement, which will allow for automatic exchange of financial account information in tax matters.

This now brings the number of countries signed up to 52 in total, with some early adopters planning to launch the first information exchanges in the last quarter of 2017, while others are scheduled to kick off in 2018.

The Standard for Automatic Exchange of Financial Account Information in Tax Matters provides for an automatic exchange of all financial information on an annual basis and was endorsed by G20 Leaders earlier this month at the Leaders’ Summit in Brisbane, Australia.

For further information see the OECD website.