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Argentina and Switzerland enter into new Double Taxation Agreement

Argentina and Switzerland enter into new Double Taxation Agreement

Argentina and Switzerland have entered into a new double taxation agreement, which was initialed 5 November 2013. Taxand Argentina and Taxand Switzerland discover the implications of the new treaty.

The new treaty replaces the treaty from 1997 and will be in line with current international standards. Even though the new treaty text has not been disclosed yet, according to what was announced by the Argentine tax authorities, it would foresee a clause of information exchange and would include a memorandum aimed to avoid harmful tax planning.

Once signed, the treaty will have to be approved by parliament in Switzerland and in Argentina before it can enter into force. The content of the agreement will be published at the time of signing. The exchange of notes of 1950 concerning the taxation of shipping and air transport companies will still apply until the new DTA has entered into force.

In January 2012 Argentina denounced the 1997 agreement, which had been provisionally applied by both countries until then.


Your Taxand contacts for further queries are:
ARGENTINA
Matias Olivero Vila
T. +54 11 5288 2308
E. matias.olivero.vila@bfmyl.com

SWITZERLAND
David Ryser
T. +41 44 215 77 04
E. david.ryser@taxpartner.ch

Also published in Thomson Reuters' Taxnet Pro, 15 November 2013

Taxand's Take

The new tax treaty between Argentina and Switzerland is thought to be agreed with the assumption it will be signed at the beginning of 2014. Subject to corresponding ratification, the treaty would be in force as of January 2015.

Taxand's Take Author