Exchange of Information

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Automatic Exchange of Information

The Automatic Exchange of Information (AEoI) is an international tax standard governing how tax authorities of participating countries exchange information related to taxpayers’ foreign banks and safekeeping accounts with one another.

The AEoI has been developed and published by the Organization for Economic Cooperation and Development (OECD).

The AEoI standard will be implemented globally. Aside from Switzerland, around 100 countries, including all major financial centres, have already committed to adopting the standard.

Participating countries will sign agreements and enact domestic laws to ensure the implementation of the AEoI standard. The “Early Adopters” countries implemented the AEoI on January 1, 2016 with first exchange of information in 2017.

Other countries (including Switzerland) implemented the standard on January 1, 2017, with the first information exchange taking place in 2018.

What the AEoL Standard Requires

The AEoI standard requires financial institutions, such as Arab Bank (Switzerland) Ltd., to identify all clients (including the controlling persons of certain entity clients) that are residents of another participating jurisdiction.

Once such a reportable person is identified, Arab Bank (Switzerland) Ltd will annually report the relevant information to its domestic tax authorities. The domestic authority will forward the data to the tax authority of the jurisdiction in which the reportable person is resident for tax purposes.

The following links will provide you with further information on this topic:

Should you require further clarification about any of the content of this page or have more questions about the AEoI standard, please contact us.

Exchange of Information

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Automatic Exchange of Information

What the AEoL Standard Requires

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