Switzerland to Amend DTAs With Several Countries After BEPS Adoption
The Federal Council in Switzerland has endorsed BEPS (Base Erosion & Profit Shifting) regarding measure related to the Multilateral Convention to Implement Tax Treaty Related Measures. The move hopes to avoid mistreatment of the international tax treaty framework by enabling countries to adjust current bilateral treaties to put new integrity regulations in place.
The Council has stated that this will prompt the country’s existing DTAs (double tax agreements) to be amended according, namely some European countries: Austria, the Czech Republic, Iceland, Italy, Lithuania, Portugal and Luxembourg. Countries from other continents include: Argentina, Mexico, South Africa & Turkey.