A large majority of states are today committed to the new global standards for more transparency in the tax area, for both individuals and company. In light of recent revelations like the Panama Papers and LuxLeaks, their effective implementation has become even more paramount.
The European Union has high ambitions in the fight against tax avoidance. Switzerland is strongly committed to the new global standards. The Swiss-EU agreement on the automatic exchange of information in tax matters was one of the first of its kind. Both are preparing legislation to force multinational companies to exchange tax information with authorities and the EU wants to go even further.