It has recently emerged that the agreement between Switzerland and Ghana for the prevention of double taxation of income, wealth and capital gains is now in force, following its recent ratification by Ghana.
Under the DTA, which it is hoped will serve to boost bilateral trade, withholding tax on dividends, interest, licence royalties and service fees will be limited.
Signed on July 23, 2008, the DTA, in line with Swiss practice at that time, includes an article on the exchange of information necessary for the agreement's application.
Given the wishes of both contracting states to bring the agreement into effect with the minimum of delay, it has also emerged that the renegotiation of extended administrative assistance, in accordance with the Organization for Economic Cooperation and Development’s standards, has been temporarily suspended.
The DTA has been in force January 1, 2010.
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