During its meeting on 20 September 2019, the Federal Council decided to immediately suspend the automatic exchange of financial account information (AEOI) with Bulgaria due to a problem with the country’s data security. The systems and databases of Swiss tax administrations and financial institutions are not affected by this incident.
Bulgaria will only receive information from its AEOI partners again once the data security problem has been resolved and the corrective measures taken have been validated by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum).