Citizen Media Watch

december 7th, 2020

Double Tax Agreements (Switzerland) Order 2020

Posted by lotta

This decision comes into effect on the twenty-eightth day following the date of its submission to the Official Journal. In October 2010, an agreement was signed to begin negotiations for an agreement to tax unreported British accounts in Switzerland and other information regarding tax and banking information shared between the two states. The agreement will strengthen, among other things, cross-border tax cooperation and improve banks` access to the market. Negotiations began in early 2011 and the agreement was signed on 6 October 2011. On March 20, 2012, a protocol was signed to clarify outstanding issues. Tax relief for the coVID-19 pandemic will continue to receive special attention in the coming year. In March 2020, the Federal Council approved a temporary waiver of late interest in the event of a late payment of certain taxes at the federal level. Most cantons have introduced tax breaks for cantonal and communal taxes, such as.B. extensions of time for filing 2019 tax returns and payment of cantonal and communal taxes, as well as a waiver of late interest for cantonal and communal tax claims. In addition, Switzerland is in the process of concluding binding agreements with its neighbouring countries (Germany, France and Austria, but not yet Italy) on border workers and similar workers who, because of the pandemic, are temporarily working not in Switzerland but from their countries of origin. It remains to be seen whether additional measures will follow, for example with regard to the rules on low-cap.

The consultation process on the reform will continue until July 2020. Parliamentary debates are not expected until 2021 and entry into force, if adopted, is not expected until 2022. Switzerland has adopted the OECD BEPS Minimum Global Standard 13 for the International Automatic Exchange of CBCRs with quantitative and qualitative data from multinationals (MNEs), with consolidated annual sales of CHF 900 million. The legal framework for CBCR`s exchanges came into effect on December 1, 2017. These include the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (MCAA-CbCR) and the corresponding law (ALBA Act), including the regulation (alba). MINNEs in Switzerland have been required to create CBCRs since fiscal year 2018.

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