Switzerland pushes for more financial transparency

Switzerland wants to wants top introduce stricter reporting requirements with regard to the law on the automatic exchange of financial information (AEOI) with other countries as it implements OECD's tax transparency recommendations. Under the proposed changes,  companies will have to retain certain documents that could be useful for AEOI purposes. Foreigners investing in Swiss property will also come under more scrutiny as the government wants to remove the reporting exception for apartment owners' associations. However, exception for the bank accounts of non-profits will be maintained a...