Examples of AEOI in a sentence
The website "www.sif.admin.ch" provides an overview of all partner states Switzerland has signed an agreement for the introduction of the AEOI.
Automatic Exchange of Information in Tax MattersSwitzerland has implemented the Automatic Exchange of Information in Tax Matters ("AEOI") as of 1st January 2017 with the EU and various other countries and is negotiating the introduction of the AEOI with further countries.
The CRS on AEOI requires the financial institutions to collect and report information to their tax authorities about account holders “resident” in other countries.All investors will have to mandatorily provide the details and declaration pertaining to FATCA/ CRS for all new accounts opened, failing which applications are liable to be rejected.
Under the FATCA regime, the AMC would be required to collect information/ certification from the investors as per the US indicia, report information on the holdings or investment returns of any investor to the US authorities and/or apply withholding tax on payments to investors who fail to provide the information and/or documents required under FATCA.India has joined the Multilateral Competent Authority Agreement (MCAA) on AEOI for CRS.
Under the Euro-CRS Directive, the first AEOI must be applied by 30 September 2017 to the local tax authorities of the Member States for the data relating to the calendar year 2016.