The Swiss Federal Council has submitted six double tax agreements (DTAs), with South Korea, Malta, Romania, Sweden, Singapore and Slovakia, to parliament for approval.
The DTAs contain the Organization for Economic and Cooperation Development standard on tax information exchange but also contain various provisions that are beneficial to the Swiss economy.
The negotiated economic benefits of the DTAs include reductions in withholding tax. In some agreements full exemption is provided for the payment cross-border of dividends, interest and royalties from liability to withholding tax at source.
Some agreements also contain arbitration clauses within the scope of mutual agreement procedures. In addition, tax discrimination is prevented.
The agreements are protocols to revise existing double tax agreements with the exception of the treaty with Malta, which is the first DTA between the two countries.
Having received the approval of the Swiss cantons and business asssociations, the agreements must be adopted by parliament to enter into force.
The DTAs contain the Organization for Economic and Cooperation Development standard on tax information exchange but also contain various provisions that are beneficial to the Swiss economy.
The negotiated economic benefits of the DTAs include reductions in withholding tax. In some agreements full exemption is provided for the payment cross-border of dividends, interest and royalties from liability to withholding tax at source.
Some agreements also contain arbitration clauses within the scope of mutual agreement procedures. In addition, tax discrimination is prevented.
The agreements are protocols to revise existing double tax agreements with the exception of the treaty with Malta, which is the first DTA between the two countries.
Having received the approval of the Swiss cantons and business asssociations, the agreements must be adopted by parliament to enter into force.
