Following the diplomatic exchange of notes, the double taxation agreement (DTA) between Switzerland and Uruguay has entered into force and will apply from January 1, 2012, the Swiss federal government has announced.
The DTA contains provisions on the exchange of information in accordance with the international standard applicable at present and is expected to boost bilateral trade and investment between the two countries.
Switzerland and Uruguay have agreed that dividends will be taxed at 15% in the source state. If companies have a stake of more than 25% in the company making the payment, dividends will be taxed at 5% in the source state.
Interest will be taxed at 10% in the source state, although interest in connection with sales on credit and long-term bank loans will be exempt.
Royalties will be taxed solely in the state of residence of the payment recipient.
.Tags: tax | investment | double tax agreement (DTA) | Switzerland | Uruguay | dividends | interest | royalties | Switzerland
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