22.12.2016 - Cross-border investment income should be taxed adequately. It is for this reason that Switzerland has had a taxation of savings agreement with the EU since 1 July 2005. Switzerland has been transferring a retention tax on the interest income of EU taxpayers to the EU member states every year since July 2008. The tax rate is 35%. The gross revenue from the retention tax amounted to CHF 169.3 million in 2015. It was CHF 317 million in 2014.
Switzerland and the EU signed an agreement regarding the automatic exchange of information in tax matters in May 2015. It should enter into force in 2017, and data should be exchanged from 2018. With the new global standard, the taxation of savings agreement will be replaced from 2017/18.