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Switzerland: Consultation on revised FATCA agreement with United States

A consultation regarding the ratification of the new FATCA Model 1 Intergovernmental Agreement.

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March 17, 2025

The Federal Tax Administration (FTA) of Switzerland on March 7, 2025, announced that it will initiate a consultation regarding the ratification of the new FATCA Model 1 Intergovernmental Agreement (IGA) and its implementation into domestic law (federal law and regulation).

The consultation seeks feedback on the agreement between Switzerland and the United States, the draft federal law, and the draft ordinance. The consultation will run until June 14, 2025.

The FATCA Model 1 IGA was signed by Switzerland and the United States on June 27, 2024, following the negotiations to transition from the existing Model 2 IGA to Model 1 IGA. Read TaxNewsFlash

This transition is expected to take effect on January 1, 2027.

Read a March 2025 report prepared by the KPMG member firm in Switzerland

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