Uk Swiss Double Taxation Agreement

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2. The competent authority shall endeavour, if the objection appears to it to be justified and if it is unable to find a satisfactory solution itself, to resolve the matter by mutual agreement with the competent authority of the other Contracting State with a view to tax evasion which is not in conformity with the Agreement. Article 2 contains a declaration on the effect and content of the provisions of the Amending Protocol (“the Agreements”). The preamble to the Convention and the articles of the Convention concerning general definitions, affiliated undertakings, dividends, interest, royalties, other income, the elimination of double taxation and mutual agreement procedures are amended. An article on entitlement to benefits is added to the agreement. (b) provisions have been made to allow for exemption from double taxation in respect of capital gains tax, corporation tax, income tax and taxes of a similar nature imposed by Swiss law; and double taxation is related to the fact that two countries simultaneously levy taxes on the same item. This situation can occur when companies or individuals have their headquarters in different countries or when they receive income from another country. Treaties reduce double taxation and thus help to overcome obstacles to cross-border economic transactions. In addition, they regulate administrative assistance in tax matters. 5. Enterprises of a Contracting State the capital of which is whote or in part owned or controlled, directly or indirectly, by one or more residents of the other Contracting State may not be subject in the first-mentioned State to taxation or an obligation which is different or heavier than the taxation and related requirements to which other similar enterprises of the first-mentioned State are subject or are subject. I didn`t do it. 4.

The term “dividends” used in this Article means income from shares, shares or rights of enjoyment, founder shares or other rights other than debt claims, profit-making and income from other corporate rights treated as income from shares under the tax laws of the State in which the distributing company is established and, in the case of the United Kingdom, each object includes: which, according to the laws of the United Kingdom, is considered to be the distribution of a business. Wishing to conclude a convention to avoid double taxation on income, an agreement was signed in October 2010 to start negotiations for an agreement that will tax undeclared accounts of Britons in Switzerland and share more information on tax and banking information between the two states. The agreement will strengthen, inter alia, cross-border cooperation in tax matters and improve banks` access to market access. Negotiations began in early 2011 and the agreement was signed on 6 October 2011. A protocol was signed on 20 March 2012 to clarify the outstanding issues. S.I. 1978/1408; The provisions laid down in that order were amended by the provisions of Shedules to S.I. 1982/714, 1994/3215, 2007/3465 and 2010/2689, and supplemented by the Agreement set out in list p.I. 2012/3079. ARTICLE 25.1. The competent authorities of the Contracting States shall exchange information (i.e. information at their disposal under their respective tax laws) necessary for the application of the tax provisions of this Convention which are the subject of the Convention.

All information thus exchanged shall be treated in secret and may not be disclosed to persons other than those responsible for fixing and collecting the taxes which are the subject of the Convention. . . .

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