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Argentina and Switzerland enter into new Double Taxation Agreement
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.
Also published in Thomson Reuters' Taxnet Pro, 15 November 2013