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09
04
2021

Double Taxation Agreement With Switzerland

Some of the countries that have double taxation agreements with Switzerland: 20.09.2019 The Federal Council adopts messages amending the double taxation agreements with Ireland and Korea In order to allow the amendments introduced by the BEPS Convention to come into force, Switzerland must submit additional notification to the bePS custodian indicating the necessary procedures indicating that the necessary procedures are completed. The first case of its kind concerned Luxembourg. In a declaration of intent dated 12 May 2020, the competent authorities of Switzerland and Luxembourg adopted the exact text of the amendments contained in the BEPS Convention (see RO 2020 2641 and RO 2020 2715). The procedure is thus closed and Switzerland has made the above notification to the custodian of the BEPS convention. The amendments are reflected in the double taxation agreement between Switzerland and Luxembourg. Switzerland intends to adapt DBAs that are not modified by the BEPS Convention to minimum BEPS standards through bilateral changes to the DBA. Switzerland has entered into inheritance tax treaties with ten jurisdictions (Austria, Denmark, Finland, Germany, the Netherlands, Norway, Sweden, the United Kingdom and the United States). All of these contracts apply only to inheritance and inheritance taxes, while gift fees are not included in any of the contracts. In countries with which Switzerland has no DTT, taxes levied on income and wealth cannot be credited with Swiss taxes and the underlying income or assets are not exempt from Swiss tax. However, the taxpayer can claim an irrecreative foreign tax deduction.

Technical explanation of the protocol amending the agreement between the United States of America and the Swiss Confederation on the prevention of double taxation and the prevention of tax evasion taking into account income tax PDF – 2011 Statistics from January to July 2010 show that imports from Switzerland increased by 72 million euros (mainly pharmaceuticals , jewellery and electrical machinery) compared to 91.2 million euros during the same period in 2009, while Malta`s exports increased to 9.3 million EUROS (mainly machinery and pharmaceuticals) compared to 5.7 million euros in the first half of 2009. The agreement will enter into force after ratification by both countries. 30.07.2019 New double taxation agreement between Switzerland and Zambia The Double Taxation Convention (DBA) enters into force and prevents the double taxation of individuals and corporations with international ties in the area of income and capital taxes. They are therefore an important element in the promotion of international economic activity. Switzerland currently has DBAs with more than 100 countries and is looking to further develop its contractual network. Switzerland also has eight agreements to avoid double taxation on inheritance and inheritance tax. Switzerland currently has a network of social security agreements with more than 30 countries. Switzerland has also concluded a bilateral agreement with the European Union that covers all 27 EU countries and more or less adapts the rules in force in the European Union. There is a similar agreement with the EFTA countries. Whether or not a social security contract is applicable is often related to the nationality of the individual. If necessary, affected workers can normally remain (for a limited time) in the social security system of the country of origin and are exempt from the host country`s scheme.

On 13 March 2009, the Federal Council announced that Switzerland intends to adopt OECD standards for mutual tax assistance, in accordance with Article 26 of the OECD Model Tax Convention. The decision allows the exchange of information with other countries in individual cases where a concrete and reasoned request has been made. The Federal Council has decided to withdraw the reserve for the OECD`s model tax treaty and to begin negotiations on the revision of double taxation conventions.

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