Friday, September 21, 2018
The Swiss Federal Council has adopted a dispatch approving the new double taxation agreement (DTA) with Brazil.
The agreement was signed in Brasilia in May and will enter into force once it has been approved by the parliaments of both countries.
According to the Federal Council, the agreement "contains favorable regulations on the international taxation of company profits and other income." The DTA also contains a range of provisions recommended by the OECD's base erosion and profit shifting project, and an administrative assistance clause in line with the international standard for the exchange of information upon request.
The Council added that the agreement provides legal certainty and a contractual framework that will have "a positive impact on the further development of economic relations between the two countries."
The Council said that the DTA had been welcomed by the Swiss cantons and by the business associations.