On December 13, 2022 in Washington, State Secretary Daniela Stoffel met the Deputy Secretary of the United States Treasury, Wally Adeyemo. The two government officials discussed bilateral and multilateral financial and tax matters.
During the discussions on bilateral topics, State Secretary Daniela Stoffel raised the ongoing negotiations on the revision of the double taxation agreement, among other things. This year, Switzerland and the United States identified potential areas for amendment and agreed to further clarify mutual concerns during the first half of 2023. In addition, the government officials discussed the implementation of the Foreign Account Tax Compliance Act (FATCA). In 2013, Switzerland signed an agreement with the United States to simplify FATCA implementation. This is to be replaced by a new agreement which envisages the automatic and reciprocal exchange of information.
State Secretary Stoffel and Deputy Secretary Adeyemo also discussed multilateral topics, such as the new Crypto-Asset Reporting Framework of the Organisation for Economic Co-operation and Development (OECD), sanctions in connection with the conflict in Ukraine, and the implementation of the OECD’s corporate tax reform and of the Basel III package of reforms on financial market stability.