News

While CRS 2.0 will enter into force as scheduled on 1 January 2026, the entry into force of the Swiss CARF provisions has been postponed until at least 2027. As a result, both CARF reporting and due diligence obligations are deferred, providing affected financial institutions with additional time for preparation. At the same time, further regulatory developments are coming into focus, including the revised FATCA agreement (expected to enter into force no earlier than 1 January 2027), new electronic filing requirements in the QI environment, and the postponed introduction of the German MiKaDiv reporting obligations by the end of 2026.

In 2022, the OECD published the updated Standard for Automatic Exchange of Financial Account Information in Tax Matters, also referred to as the Common Reporting Standard (CRS), including the amendment of the existing standard for the automatic exchange of financial account information (so-called CRS 2.0) and the introduction of the new Crypto-Asset Reporting Framework (CARF). This newsletter includes the most significant changes to the legislation planned to enter into force on January 1, 2026.