The effects of Brexit on the citizens of the UK will be felt in different ways, one of the main considerations being the economics. For the UK economy to prosper outside the European Union, the UK must conclude new international agreements. 1. By mutual agreement, the authorities of several contracting parties may create a joint investigation task force, based in a party. Details of the Swiss contract transfer can be found in the 2013 Finance Act. The United Kingdom left the European Union on 31 January 2020. The UK`s withdrawal marked the beginning of a transitional period until 31 December 2020, during which time bilateral agreements between Switzerland and the EU continue to apply to the UK. A new round of bilateral agreements between Switzerland and the United Kingdom will then apply. 4. The required entity of the contracting party transfers the amount of the debt recovered to the authority of the applicant contracting party. In agreement with the applicant, it may deduct a percentage corresponding to the administrative costs incurred.
On that date, a commitment was signed, but no agreement has yet been reached. The following is a negotiation phase that must lead to a legally binding international agreement defining the above points. 2. The information and evidence obtained by the applicant under this agreement may be passed on to any contracting party when it conducts an investigation for which cooperation is not excluded or if there is clear evidence that that party could conduct such an investigation in a meaningful way. Such a transmission cannot serve any purpose other than that of this agreement. 2. Before a request for cooperation is rejected on the grounds of reciprocity, the Joint Committee is informed in order to give it the opportunity to rule on this issue. 3. By mutual agreement between the authority of the applicant contracting party and the authority of the required contracting party, officials authorized by the authority of the applicant contracting party may, subject to the detailed instructions of the required contracting party, have access to the documents and information covered in paragraph 1 concerning certain illegal activities within the scope of this agreement. These officials have the authority to copy it.
The bilateral financial services agreement must also provide a clear process that must follow if recognition is withdrawn at some point. The UK`s bilateral financial services agreement with Switzerland aims to strengthen cooperation and confidence by facilitating british companies` access to the Swiss market and vice versa.