According to OECD Direct “Switzerland has become the 58th country to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters during a ceremony at the OECD. The signing comes after the Swiss Federal Council approved the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on 9 October.
OECD Secretary-General Angel Gurria welcomed Switzerland’s adherence to the Convention, which he said sends a clear and strong signal that Switzerland is part of the community of states which consider international tax co-operation as a necessity. This signature is an important step for Switzerland to resolve the issues identified in its Peer Review by the Global Forum on Transparency and Exchange of Information on June 2011.
Switzerland’s Ambassador to the OECD Stefan Flückiger said: Switzerland has been committed to complying with international standards in tax matters since March 2009. The signing of the Convention confirms Switzerland’s commitment to the global fight against tax fraud and tax evasion with a view to safeguarding the integrity and reputation of the country’s financial centre”.
It is doubtless a relevant step towards global fiscal transparency.