Swiss bankers ask for more financial data agreement

The Swiss Bankers Association intends to enter into more agreements for the automatic exchange of tax information in order to keep pace with the most advanced countries in the sector.

Switzerland signed less than 40 agreements, while other countries have already arrived to sign 60, said last night in Geneva, the new president of the SBA Herbert Scheidt.

"There is a certain expectation and we must act quickly," but we must also see how the other states apply the standards and hope that the Organisation for Economic Co-operation and Development (OECD) does not grant exemptions from the US financial centers. Other points to watch are security and data protection. If these conditions are met, you will go "in the right direction."

According Scheidt, after Brexit, the dialogue with the United Kingdom must esere strengthened, as the Island will become an important partner, but without a negative impact on relations with the European Union.

Switzerland is set to begin agreements next year with all European Union states including Gibraltar, and Australia. The same applies to Iceland, Norway, Japan, Canada, South Korea and the British crown dependencies of Jersey, Guernsey and the Isle of Man. Parliament is due to give its approval during the current winter session.