To carry out this exchange, Switzerland invoked Section 7 of the CMAAT, a comprehensive provision on the spontaneous exchange of information. Switzerland then exchanges information with all CMAAT member countries. Switzerland and Brazil are deepening bilateral relations with the agreement. Switzerland will also be permanently removed from Brazil`s blacklist of countries with insufficient exchange of tax information, which will give more legal and security certainty to Swiss companies operating in Brazil. The agreement regulates the exchange of information on demand in tax matters. In the future, the Swiss and Brazilian authorities will endeavour to further expand tax cooperation, which could include the conclusion of provisions to avoid double taxation. With regard to IEO requests to business groups, foreign countries requested very detailed information, including copies of Swiss companies` tax returns, information on the exact maintenance in Switzerland and copies of tax rulings that may be guaranteed in Switzerland. Tax information exchange agreements (TIEA) are signed by two countries that agree to cooperate on tax matters through the exchange of information. Jersey has been exchanging information with other countries since 2007 using TIEA. That is why Switzerland has committed to report in 2018 in the first round of reports on information collected in 2017, subject to the final approval of these standards in accordance with national laws. This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below). The aim of this agreement is to promote international cooperation in tax matters through the exchange of information.

It was developed by the OECD Global Forum Working Group on Effective Information Exchange. The agreement on the exchange of tax information with Brazil was initially signed with a view to closer cooperation between the two countries on tax matters, which could ideally lead to the signing of a double taxation agreement. Switzerland has been permanently removed from the Brazilian blacklist of countries that do not exchange enough tax information. This gives Swiss companies operating in Brazil greater legal certainty and investment security. A tieA request for information model has been developed to assist the relevant authorities of TIEA partners in requesting information. It is available in English and French as well as in Spanish, German, Italian, Japanese, Korean and Turkish. It was not until April 2013 that G20 finance ministers and central bank governors approved the automatic exchange of information as a new international standard to combat global tax evasion. A few months later, in October 2014, some 100 states (including Switzerland) expressed a desire to implement this new standard.