Switzerland and Ireland have inked a revised double tax agreement which alters dividend withholding tax rates.
The protocol was signed in Dublin on January 26 and also contains provisions on the exchange of information in accordance with internationally accepted standards.
According to the Swiss Department of Finance, the revised DTA will contribute to the further positive development of bilateral economic relations.
The new treaty sets out that both countries may levy withholding tax of no more than 15% on gross dividend amounts.
However, if a company holds a stake of at least 10% in the capital of the distributing company, the dividends will be exempt from withholding tax.
No withholding tax will be levied on dividends paid to the national banks of the two countries or to pension funds.
Both the Irish and Swiss federal parliaments must approve the revisions before the new treaty can come into force.
.Tags: tax | law | offshore | investment | business | banking | holding company | offshore banking | tax rates | withholding tax | Ireland | Switzerland | dividends | Switzerland | Ireland
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