The Swiss Federal Administration has announced that the protocol amending the double taxation agreement (DTA) between Switzerland and Austria will enter into force on March 1, 2011.
Aside from a provision on the exchange of information in accordance with the Organization for Economic Cooperation and Development standard, the inclusion of an arbitration clause was also agreed with Austria, the administration notes.
As Switzerland and Austria have now exchanged the instruments of ratification, the Protocol of Amendment will enter into force on March 1 next year, and the provisions of the agreement will apply to assessment years beginning on or after January 1, 2012.
The protocol amending the DTA with respect to taxes on income and capital was signed in Vienna on September 3, 2009, and was approved by the Swiss parliament on June 18, 2010. The referendum deadline expired unused on October 7, 2010.
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Aside from a provision on the exchange of information in accordance with the Organization for Economic Cooperation and Development standard, the inclusion of an arbitration clause was also agreed with Austria, the administration notes.
As Switzerland and Austria have now exchanged the instruments of ratification, the Protocol of Amendment will enter into force on March 1 next year, and the provisions of the agreement will apply to assessment years beginning on or after January 1, 2012.
The protocol amending the DTA with respect to taxes on income and capital was signed in Vienna on September 3, 2009, and was approved by the Swiss parliament on June 18, 2010. The referendum deadline expired unused on October 7, 2010.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.