Double taxation agreements: Federal Council adopts additional dispatches
Berne, 23.11.2011 - Today the Federal Council adopted the dispatches on four further double taxation agreements (DTAs), which will now be submitted to parliament for approval. The DTAs with Russia, Spain, Hong Kong, and the United Arab Emirates contain provisions on administrative assistance in accordance with the internationally applicable standard. They also promote the development of bilateral economic relations.
The negotiated economic benefits of the DTAs include reductions in withholding tax, or even tax exemption for dividends, interest and royalty payments in the source state, as well as arbitration clauses within the scope of mutual agreement procedures. The agreements thereby facilitate the activities of the export economy, promote bilateral investments and contribute to the prosperity of Switzerland and that of the partner state. In addition, they prevent tax discrimination. The cantons and the business associations concerned have welcomed the conclusion of these DTAs.
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Mario Tuor, Communications, State Secretariat for International Financial Matters,
+41 31 322 46 16, Mario.firstname.lastname@example.org