Switzerland and Austria have concluded negotiations on extending administrative assistance in tax matters under Article 26 of the OECD Model Convention and have initialled a revised double taxation agreement (DTA). The DTA was negotiated in accordance with the parameters decided by the Federal Council.
On 13 March 2009 the Federal Council decided that Switzerland would change policy on international cooperation in tax matters and adopt the OECD standard on administrative assistance. The decision will permit an exchange of information on tax matters in individual cases where a specific and justified request has been made.
Austria is the eleventh country with which Switzerland has initialled a DTA containing the extended administrative assistance clause after Denmark, Luxembourg, Norway, France, Mexico, the USA, Japan, the Netherlands, Poland and the United Kingdom. The cantons and business associations will now have an opportunity to submit their views during a limited period. The Swiss Federal Council will then decide on what formalities are required to ratify the agreement before it is published.
A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp
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