Tax Agreement Between Uk And Switzerland

The protocol also provides that the herendation will be included in the agreement. Recipients of an undisclosed Swiss bank account must either pay inheritance tax or give their consent to the dive permit to be disclosed to the British authorities. This agreement largely follows the OECD`s model of agreement and Swiss policy in this regard. Article 2 defines the effect and content of the provisions of the amendment protocol (“agreements”). The preamble to the agreement and the articles of the convention concern general definitions, related companies, dividends, interest, royalties, other income, the abolition of double taxation and the procedure of mutual agreement are amended. An article on entitlement to benefits is added to the agreement. S.I. 1978/1408; the provisions of this decision were amended by the agreements in flight plans S.I. 1982/714, 1994/3215, 2007/3465 and 2010/2689 and were supplemented by the agreement on the S.I. 2012/3079 list. The United Kingdom has concluded a series of bilateral tax cooperation agreements through the exchange of information. The Federal Council`s decision is implemented within the framework of bilateral double taxation agreements.

Greater information exchange will only have a practical effect if the renegotiated agreements come into force. In addition, adjustments must be made to the agreement with the EU on the taxation of savings. The UK has mutual agreements with a number of countries on the EU Directive on the taxation of savings income in the form of interest. The United Kingdom has also concluded a number of non-reciprocal agreements on the European Savings Tax Directive. In addition to this impressive list, contracts are still pending between Switzerland and Costa Rica, Demoman and Zimbabwe. The protocol became necessary to appease the European Commission, which had considered that the agreement could be contrary to the European Treaty. By threatening to refer the matter to the European Court of Justice, the United Kingdom and Switzerland have agreed that account holders who have already paid the 35% withholding tax due under the European Savings Tax will be subject to a final withholding tax of 13% in order to reduce the tax debt on interest payments. (a) with respect to the amendments to Article 24 (mutual agreement procedure) of the convention by Article IX of the Amendment Protocol from the date of the amendment protocol` entry into force, without taking into account the tax period; Statistics from January to July 2010 show that imports from Switzerland amounted to EUR 72 million (mainly pharmaceuticals, jewellery and electrical machinery) compared with EUR 91.2 million in the same period in 2009, while Malta`s exports increased to EUR 9.3 million (mainly machinery and pharmaceuticals) from EUR 5.7 million in the first half of 2009.