Switzerland and United States FATCA agreement enters into force

06 June, 2014

The Federal Council decided, on June 6, 2014, that the FATCA agreement between Switzerland and the United States came into force on June 2, 2014. This agreement was approved by the parliament in September 2013. The FATCA execution in Switzerland is

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Switzerland – San Marino: Signes TIEA

25 May, 2014

Switzerland and San Marino signed a tax information exchange agreement (TIEA) on May 16, 2014. The agreement provides for the exchange of tax information on request on specific tax matters. The conclusion of agreements for the exchange of tax

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Switzerland and Singapore sign OECD agreement against tax evasion though banking secrecy

25 May, 2014

Forty seven countries participated in the Declaration on Automatic Exchange of Information in Tax Matters, adopted by the OECD on 6 May 2014. These countries included Switzerland and Singapore, two financial centers that have in the past been

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Swiss Discuss Banking Sector Tax Disputes With The US

25 May, 2014

Recent discussions between the US and Switzerland have centered on a US tax dispute settlement program for category two, three, and four banks and the current US criminal investigations into category one banks that are domiciled in Switzerland. The

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Switzerland to Retain Flat Tax For Wealthy Expatriates

18 May, 2014

Switzerland’s National Council has voted against the proposed withdrawal of the flat tax regime for high wealth foreigners. The Council supported that argument that the flat tax makes Switzerland an attractive location for high wealth individuals

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Swiss Bankers Ask France to Increase Amnesty Uptake

18 May, 2014

The President of the Swiss Bankers Association (SBA), has suggested that France should extend and enhance its tax regularization facility to allow more taxpayers to make a voluntary declaration to normalize their tax affairs. At the moment the

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Switzerland – New VAT registration requirements on foreign companies

27 April, 2014

Switzerland is planning to require non-resident companies that provide services in Switzerland to charge Swiss VAT on the services at a rate of 8%. There is a need for all foreign service providers to comply with this requirement so that Swiss

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Switzerland: Consults on revised rules for expats

27 April, 2014

Switzerland is planning changes to the tax deductions to which expatriates are entitled, as a result of recommendations by a working group set up for the purpose. A revision to the legislation would involve changing the definition of an expatriate

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Switzerland: Expands professional training tax breaks

27 April, 2014

In Switzerland a federal law in relation to tax deductions for professional development and training costs is to take effect from 1 January 2016. The rules will widen the current tax deduction to encompass virtually all training fees rather than

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Switzerland – Pakistan DTA Negotiation

24 April, 2014

According to some media reports, Pakistan is looking to revise the double taxation agreement (DTA) with Switzerland. The current double tax agreement between the two countries was signed on 19 July 2005 and entered into force in 2008. No further

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Protocol to treaty between Belgium and Switzerland signed

20 April, 2014

On 10 April 2014, Belgium and Switzerland signed an amending protocol to the double taxation treaty originally concluded between the two countries in 1978.  No further details of the Protocol are currently

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Switzerland – Committee rejects IHT and VAT changes

16 April, 2014

A Swiss government committed has rejected an inheritance tax proposal from the Socialist Party and has also rejected a suggestion to introduce a consumption tax on energy in place of the VAT. The inheritance tax suggested by the Socialists would

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Switzerland – Bankers demand Investment Law Revision

16 April, 2014

The new Financial Market Infrastructure Act (FMIA) is being supported by the Association of Swiss Private Banks but the latter organization is also concerned that the legislation should not damage the competitive nature of the financial sector in

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Switzerland – Upper House passes China FTA

31 March, 2014

The Free Trade Agreement (FTA) between Switzerland and China has been adopted by the Swiss Council of States. The agreement contains provisions in respect of trade in goods and services, competition, investment promotion, intellectual property

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Switzerland – new agreements for the exchange of tax information

31 March, 2014

Switzerland signed tax information exchange agreements with Greenland and Andorra in March 2014. These accords provide for the exchange of information on request in respect of tax investigations. The conclusion of information exchange agreements is

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Switzerland signs new DTA with Argentina

31 March, 2014

Switzerland and Argentina have signed a new double taxation agreement (DTA). When it enters into force this agreement will replace the provisional agreement signed in 1997. The agreement contains provisions relating to the exchange of information

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Switzerland Plans Stricter Rules for Biofuel Tax Breaks

31 March, 2014

The Swiss Council of States has given its approval to a bill strengthening the provisions on the eligibility of enterprises for biofuel tax breaks. Biofuels may be partly or wholly exempt from mineral oil tax provided that they conform to certain

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Switzerland Adopts Anti-Tax Evasion Bill

31 March, 2014

The Swiss Council of States has approved a Bill in respect of the revised recommendations of the Financial Action Task Force (FATF). The Bill raises the qualifying threshold for serious tax offences and therefore helps the fight against tax evasion.

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