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Switzerland Signs Double Taxation Agreement With Malta,
by Robert Lee, Tax-News.com, London
Friday, December 19, 2008
Micheline Calmy-Rey, Swiss Minister of Foreign Affairs, visited Malta on an official
visit on December 18 to sign a double taxation avoidance agreement with her Maltese
counterpart, Tonio Borg.
Dr. Borg said that this agreement has the primary objective of making the two
countries more attractive for entrepreneurs and will serve to improve Maltese-Swiss
economic and commercial cooperation. He also said that the signing of the instrument
represents a major and important step forward in the bilateral relations between
both countries and represents a significant addition to Malta’s existing
network of double taxation treaties.
The latest statistics for 2007 show that imports from Switzerland rose to EUR66.7m
(mainly pharmaceuticals, jewellery, electric machinery), while Malta’s
exports rose to EUR7.9m (mainly machinery and pharmaceuticals).
The agreement will help people operating between both countries avoid double
taxation and covers direct taxes on income and capital. Borg added that the
agreement will enable both countries to exchange information for a more effective
stand against tax evasion.
The agreement will enter into force following ratification by both countries.
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