(February 23, 2015) 

On February 23, 2015 The Swiss Federal Department of Finance (FDF) issued a press release announcing that on February 23, 2015 Switzerland and Italy signed a Protocol amending their DTA. Furthermore both countries also signed a roadmap for continued dialogue on financial and tax issues. Although the protocol has been signed, it has not yet entered into force. The Protocol will enter into force once both countries have completed their legislative procedures.

 

The Protocol amends Article 27 of the existing DTA by a new Article 27 (Exchange of information) arranging for the exchange of information upon request. Once the Protocol comes into force, it should apply for circumstances from the date of signing (February 23, 2015).

 

As written above, next to the Protocol both countries also signed a roadmap for continued dialogue on financial and tax issues. The roadmap contains a clear political commitment to several important aspects of bilateral relations in the area of taxation and finance. For each aspect, binding parameters were agreed or a schedule for the subsequent course of action was drawn up.

 

The roadmap regards a.o. the following subjects: 

1.      Automatic exchange of information

2.      Regularization of the past and exchange of information on request on cross border assets

2.1  Exchange of information under art. 26 of the OECD Model Tax Convention

2.2  Regularization of the past

2.3  Transitional period

3.      Double Taxation Treaty – other issues

4.      Taxation of frontier workers

5.      Black lists

6.      Campione d’Italia

7.      Modalities

 

A third document titled “Factsheet” was also attached to the press release as issued by the Swiss Federal Department of Finance.

 

Click on the language of your choice to be forwarded to the full text of the Protocol as published on the website of the Swiss Federal Department of Finance (German, Italian, France).

 

Click on the language of your choice to be forwarded to the full text of the Roadmap as published on the website of the Swiss Federal Department of Finance (English).

 

Click on the language of your choice to be forwarded to the full text of the Factsheet as published on the website of the Swiss Federal Department of Finance (German, English, Italian, France).

 

Click on the language of your choice to be forwarded to the press release as issued the Swiss Federal Department of Finance (German, English, Italian, France).

 

 

Copyright – internationaltaxplaza.info

  

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