On August 13, Switzerland and Qatar concluded negotiations on a double taxation agreement (DTA). The initialed agreement also comprises an article on administrative assistance in accordance with Article 26 of the OECD Model Convention. The DTA contains solutions that are favorable for developing bilateral economic relations.
Qatar is the first country outside the OECD with which Switzerland has initialed a DTA containing the extended administrative assistance clause in accordance with Article 26. Switzerland has already initialed agreements with the extended administrative assistance clause with 12 OECD members: Denmark, Luxembourg, Norway, France, Mexico, the USA, Japan, the Netherlands, Poland, the UK, Austria, and Finland.
The initialing is the first stage on the way to a new or a revised DTA. In order to be removed from the "gray list" drawn up by the OECD Secretariat for the G20, the next step is for 12 agreements based on the OECD standard on administrative assistance to be signed.
The initialed text is still confidential. Cantons and business associations in Switzerland will now have the opportunity to submit their views. Subsequently the Federal Council's consent to sign must be obtained. After the signing has taken place (carried out by a minister or ambassador from the contracting states) the agreement will be 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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