Switzerland delays automatic crypto tax data-sharing with foreign authorities until at least 2027

Switzerland will adopt the crypto-asset reporting framework in law from 2025 but delay automatic cross-border crypto tax data-sharing until at least 2027.

Summary

• Swiss authorities will incorporate the crypto-asset reporting framework into national law on January 1 but postpone practical implementation by at least one year.​
• The delay stems from suspended talks on which partner states will receive Swiss crypto account data, even as 75 countries commit to rolling out the framework.​
• The U.S. is considering joining via an IRS proposal, while non-signatories such as Argentina, El Salvador, Vietnam and India remain outside the agreement.

Switzerland has postponed the implementation of rules permitting automatic sharing of cryptocurrency account data with foreign tax authorities until at least 2027, despite the regulatory framework taking formal effect on January 1, according to government announcements.

Switzerland to implement crypto framework

The Swiss Federal Council and the State Secretariat for International Financial Matters announced on November 26 that the Crypto-Asset Reporting Framework rules will be incorporated into national legislation beginning January 1, but practical application will be delayed by a minimum of one year.

The postponement stems from suspended discussions regarding partner countries with which Switzerland plans to share data under the framework, according to the announcement. The Swiss government’s tax committee has halted negotiations on selecting states for initiating information exchange.

The Organization for Economic Cooperation and Development approved the framework in 2022 as part of a global initiative to combat tax evasion through information exchanges. The framework aims to enable partner governments to share data on cryptocurrency accounts held by their citizens.

The Swiss government’s announcement also detailed changes to local cryptocurrency tax reporting regulations, along with transitional provisions designed to facilitate compliance for domestic cryptocurrency companies.

According to OECD documents, 75 countries, including Switzerland, have committed to implementing the framework over the next two to four years. Countries that have not signed the agreement include Argentina, El Salvador, Vietnam, and India.

The White House has recently reviewed a proposal from the Internal Revenue Service to join the framework as part of an initiative to impose stricter reporting requirements on cryptocurrency capital gains for American taxpayers using foreign exchanges, according to reports.