The Organization for Economic Co-operation and Development (OECD) agreed on this new global standard in July 2014. Under the Automatic Exchange of Information (AEOI), tax authorities in participating countries will pass information on to other countries concerning the earnings and assets held by taxpayers. The aim is to prevent cross-border tax evasion. The Swiss parliament has passed two bills to facilitate a bilateral exchange with other countries under the AEOI. Information will be gathered accordingly and exchanged with the relevant partner countries in the following year. Here you will find the AXA forms for self-certification.
Based on the OECD standard, the following information pertaining to insurance policies held by taxpayers whose account is in a different country from their tax domicile must be sent:
Both natural persons and legal entities are affected by the AEOI if their tax domicile is not exclusively in Switzerland. Financial institutions must therefore clarify with all customers where their tax domicile is.
Further, for legal entities, the controlling persons are also affected by the AEOI and their tax liability must also be clarified.
AXA Life Ltd. is planning to inform those customers affected about the information sent on an annual basis.
In deciding in which country an employee is tax resident, and where his global income is to be taxed, the following criteria are applied:
More information on tax residency with regard to your country of residence can be found at the following link: Automatic Exchange Portal
Switzerland already has agreements with numerous countries on the automatic exchange of information. Further such AEOI agreements are planned or at the negotiation stage. The current status for the individual countries can be obtained from the State Secretariat for International Finance.
Information about the taxpayer will be sent to the national tax authority, which will automatically forward the data to the tax authorities of the taxpayer.
The automatic exchange of information with the first partner countries will be introduced in Switzerland as of January 1, 2017. Further partner countries will follow as of January 1, 2018, and later. In each case, the notifications will be made not later than six months (end of June) after the end of the reporting year.
In the context of the mutual exchange of tax information under the "Foreign Account Tax Compliance Act" (FATCA), AXA has a statutory obligation to report the assets of its American customers to the US tax authority. On this page you will find the official forms of the US tax authority, the Internal Revenue Service (IRS), that you need in order to declare your tax liability to AXA.
Request for Taxpayer Identification Number and Certification
Please use this form to inform AXA about your US tax liability and your American tax number (US citizen, US person as defined by the IRS).
Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding
Use this form if you are a private individual (natural person) and want to inform AXA about your tax situation in the US (non-resident alien as defined by the IRS).
Certificate of Status of Beneficial Owner for United States Tax Withholding (Entities)
Use this form if you are acting on behalf of a company (legal entity) and want to inform AXA about the US tax liability of this company.
All natural persons who meet one of the following criteria are affected by FATCA:
Moreover, for legal entities, the controlling persons are also affected by FATCA and their US tax liability must also be clarified.