Basler Kantonalbank is a reporting Swiss financial institution and will therefore for the first time as of June 2018 report information for the tax year 2017 to the Swiss Federal Tax Administration, which will forward the data to Switzerland’s partner states. A report will be made fundamentally if the account holder/contracting partner (or economic beneficiary, if different) are persons subject to reporting; i.e., persons who are fully liable to taxation in one or more of Switzerland’s partner states. In the case of companies, in certain cases information can also be reported on controlling persons who are fully liable to taxation in one or more of Switzerland’s partner states.
The information to be exchanged contains basically the following data on the account holder/contracting partner (and in certain cases the economic beneficiaries and controlling persons, if different):
- Name, address, tax identification number, date of birth
- Account number
- Aggregate balance
- Total gross earnings from interest, dividends, and other income, as well as total gross proceeds from the sale or repurchase of assets.
In addition, the name and where applicable the identification number of Basler Kantonalbank will be reported.
A partner state is permitted to use the transmitted information only for purposes as set forth in the information sharing provisions of the respective agreement between Switzerland and the partner state. The confidentiality obligations in the respective agreement are also applicable.