CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Swiss Gov't Approves BEPS Multilateral Instrument

Swiss Gov't Approves BEPS Multilateral Instrument

by Ulrika Lomas,, Brussels

21 September 2018

The Swiss Federal Council has approved an OECD multilateral convention designed to prevent BEPS-related abuse of the international tax treaty system.

Switzerland signed the convention in June 2017. The convention is aimed at countering tax avoidance strategies that lead to base erosion and profit shifting, in which tax treaty loopholes are used to shift profits to low-or no-tax locations.

The Swiss Federal Council adopted the dispatch on the convention on August 22, after which the dispatch was submitted to parliament.

The convention provides countries with a method for modifying their bilateral tax treaties to implement the new integrity rules.

In the case of Switzerland, the convention will initially amend the double taxation agreements (DTAs) with Argentina, Austria, Chile, the Czech Republic, Iceland, Italy, Lithuania, Luxembourg, Mexico, Portugal, South Africa, and Turkey.

The Swiss Council said that these countries are prepared to agree with Switzerland the precise wording of the DTAs to be adapted via the BEPS convention.

The Council added that through bilateral negotiations Switzerland has already implemented the BEPS minimum standards into its DTAs with Brazil, Latvia, Kosovo, Pakistan, Saudi Arabia, the UK, and Zambia. It said that further DTA revisions are ongoing.

TAGS: Pakistan | South Africa | compliance | tax | double tax agreement (DTA) | tax compliance | Chile | Iceland | Portugal | Saudi Arabia | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | Latvia | Luxembourg | Mexico | United Kingdom | agreements | transfer pricing | Austria | Brazil | Czech Republic | Italy | Switzerland | Zambia | standards | Argentina | Lithuania | Turkey | Africa | Tax | Tax Evasion | Kosovo | BEPS

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »