It has emerged recently that Switzerland and Kazakhstan have initialled a revised bilateral double taxation agreement (DTA), extending administrative assistance in tax matters in accordance with the Organization for Economic Cooperation and Development's (OECD) standard.
The Swiss Federal Council decided on March 13, 2009, to adopt the OECD’s standard on tax cooperation. Since then, Switzerland has negotiated DTAs containing an extended administrative assistance clause in accordance with Article 26 of the OECD Model Convention with numerous countries.
It has also emerged that the Federal Council recently adopted dispatches on revised DTAs with the US, Denmark, France, Mexico and the UK in an initial batch.
The renegotiation of the DTAs has resulted in numerous benefits for the Swiss economy, including reductions in withholding tax, zero rates for dividends, interest and royalty payments, as well as arbitration clauses to avoid double taxation. In addition, discrimination on the basis of the administrative assistance policy has now ceased.
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