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Swiss, German Revised DTA In Force

by Ulrika Lomas, Tax-News.com, Brussels

27 December 2011


Switzerland’s Federal Department of Finance (FDF) has announced that the revised double taxation agreement (DTA) between Switzerland and Germany has now entered into force following a recent exchange of the instruments of ratification.

According to the FDF, the DTA contains provisions on the exchange of information in accordance with the international standard applicable at present, and will contribute to the further positive development of bilateral economic relations.

The revision of the existing DTA with Germany was signed on October 27, 2010, and subsequently approved by parliament in both countries.

The FDF explains that the instruments of ratification were exchanged recently in Berlin by Swiss Ambassador, Tim Guldimann, and by Franz Josef Kremp, from Germany's Foreign Office.

The FDF states: “The revised agreement contains an administrative assistance clause on the exchange of information in accordance with the internationally applicable standard.”

It adds: “In addition, the new DTA contains various provisions that are beneficial to the economies of Switzerland and Germany. For example, the stake required for the zero rate of tax on dividends will be reduced and an arbitration clause introduced.”

It continues: “The agreement's provisions on the exchange of information are due to apply from January 1, 2011, and the remaining provisions are to apply from January 1, 2012.”

Switzerland’s FDF ends by noting that: “The agreement already signed by Switzerland and Germany on an international withholding tax levied at source is still in the process of being ratified. It should be submitted to parliament for approval in both countries in 2012 and enter into force in 2013.”

TAGS: tax | investment | withholding tax | Germany | Switzerland | dividends

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