Commentaries: Art. 1

This Act governs the implementation of agreements on cooperation in the area of taxation, in particular:
1. the tax regularisation of relevant assets held with Swiss paying agents;
2. the levying of a final withholding tax on capital income and disclosure of such capital income;
3. the levying of a final withholding tax on inheritances and disclosure of such inheritances;
4. measures to safeguard the agreement’s purpose;
5. penalties for failure to comply with the applicable agreement and with this Act;
6. procedures.
It applies to the agreements set out in the Annex. Switzerland may enter into agreements with any country, particularly those with which it has signed an investment protection agreement.
It is subject to the derogations of individual applicable agreements.