Swiss Gov't Approves BEPS Multilateral Instrument
by Ulrika Lomas, Tax-News.com, 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.
To see today's news, click here.
Tax-News Reviews

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

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

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

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com 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 »
Network Blogs and Features
- complex tax rules and capricious tax inspectors »
- stockpiling paper »
- Hong Kong Business and Work Culture: All you need to know »
- prospects looking rosy »
- The Diamond Industry in UAE »
- Brexit Ramifications For Ireland »
- Easy guide to starting a home-based business in Ohio »
- unintended consequences »
- Basic Guide to Set up a Home Based Business in Hong Kong »
- Life's never simple »