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Automatic Exchange of Information

Based on the international agreement (AEOI) between Switzerland and various countries in theworld, including the European Union, tax relevant client data have been reported cross-border, i.e. through the Swiss Federal Tax Administration to the fiscal authorities in the countries of residence, since 2018.

The client data transmitted are used by the fiscal authorities in the country of residence for fiscal purposes according to the multilateral agreement on the Automatic Exchange of Information on financial accounts (AEOI-agreement), and according to other international agreements, which provide for an automatic exchange of information on financial accounts. The domestic fiscal authorities are prohibited from forwarding the client data received to a third country. Furthermore, they are obliged to treat the client data transmitted to them confidentially; and they are only allowed to give access to the data to those persons and authorities, who are responsible  for the assessment, collection and enforcement of taxes or with prosecution or the determination of appeals in tax matters of that partner state, or who supervise such persons and authorities.

Policyholders have a right of information from Skandia Leben AG, concerning their own personal data reported to the Swiss Federal Tax Administration, and, where applicable, the right to request a correction of their data. Please note that our reporting duty by virtue of the Automatic Exchange of Information does not release the policyholders from their tax declaration duties to their local fiscal authorities.

For further information on the countries, with which Switzerland has concluded such an agreement, please refer to the webpage of the Federal Department of Finance:

https://www.efd.admin.ch/efd/en/home/themen/wirtschaft--waehrung--finanzplatz/finanzmarktpolitik/automatic-exchange-of-information--aeoi-.html