The Swiss Government is consulting on proposed amendments to the Anti-Money Laundering Act.
The proposed amendments are intended to take into account the most important recommendations from the Financial Action Task Force's (FATF's) 2016 Mutual Evaluation Report on Switzerland. In response to the FATF's report, in June 2017 the Federal Council instructed the Federal Department of Finance to prepare a consultation draft to deal with the recommendations while also reinforcing the integrity of the Swiss financial centre.
The Government has now proposed the following:
The consultation draft also contains provisions for improving the effectiveness of the suspicious activity reporting system for money laundering and the financing of terrorism. The threshold for cash payments in precious metals and gem trading is to be reduced, and an authorization for the purchase of old precious metals is to be made compulsory.
The consultation will close on September 21.
On August 3, 2018, Russia ratified the protocol to the DTA with Belgium.
On July 27, 2018, the DTA between Belarus and the United Kingdom entered into force.
On August 3, 2018, Russia ratified its pending DTA with Japan.
On July 30, 2018, Taiwan expressed its desire to negotiate a TIEA with Spain.
On May 29, 2018, China and Chile signed a DTA.
On August 1, 2018, Ecuador ratified the pending Protocol to the 1994 DTA with Switzerland.
In a bulletin released on July 30, 2018, Colombia's Ministry of Finance announced that negotiations on the country's prospective DTA with Japan have been concluded.
On July 27, 2018, Kosovo ratified the DTA signed with Austria.
According to a Maltese Government press release on 24 July, 2018, officials from Bosnia and Herzegovina and Malta are negotiating a DTA.
On July 18, 2018, a DTA between Cyprus and the United Kingdom entered into force.
During a meeting held in Brazil on July 17, 2018, representatives of the Brazilian and Lithuanian governments engaged in negotiations on a prospective DTA between the two countries.
The UK Government on July 23, 2018, published a consolidated version of the twice amended Belize-UK DTA.
On July 13, 2018, an amending protocol signed in February between the United Kingdom and Mauritius entered into force.
Finland's President on July 13, 2018, approved the signature of a Protocol to the 1996 DTA with the Nordic countries: Finland, Denmark, the Faroe Islands, Iceland, Norway, and Sweden.
India's Ministry of Finance published a notification declaring that the protocol signed on January 27, 2016, amending the country's 2003 double tax treaty with Armenia, entered into force on June 14, 2017. The notification was published in the Gazette of India on July 5, 2018.
During a meeting held in Hanoi on July 13, 2018, representatives from Vietnam and Algeria discussed potentially negotiating a DTA.
On July 14, 2018, the tax authorities of Maldives and Singapore concluded a first round of negotiations on a prospective DTA.
On July 10, 2018, officials from Kenya and Portugal signed a DTA.
On July 11, 2018, San Marino and the United Arab Emirates signed a DTA.
The UAE's Cabinet on June 13, 2018, approved DTAs signed with Saudi Arabia, Rwanda, and Turkmenistan.
A law to ratify the Azerbaijan-Morocco DTA was tabled before Morocco's Cabinet on June 14, 2018.
Qatar's Government on June 14, 2018, confirmed that it had completed its domestic ratification procedures in respect of a DTA signed with Argentina.
Ukraine's Cabinet on June 6, 2018, approved a law to ratify a DTA Protocol signed with the United Kingdom.
Luxembourg and Vietnam agreed to continue negotiations towards a DTA Protocol at a June 15 meeting.
Sweden's Parliament on June 7, 2018, approved an amendment to the country's DTA with Switzerland to clarify the scope of the term pension fund in the agreement.