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DTT with Switzerland, Terminated
On 31 January 2012 the Official Gazette published an announcement that the Argentine Republic has chosen to terminate the Convention subscribed between Switzerland and Argentina for the Avoidance of Double Taxation with respect to taxes on Income and Capital and its respective protocols. The termination was communicated through a note dated 16 January 2012, sent by Argentine authorities to the Swiss authorities. Taxand Argentina discusses the announcement and what it means for multinationals trading between Argentina and Switzerland.
The Official Gazette states that from 16 January 2012 the following are effectively terminated:
- The Convention subscribed between Argentina and Switzerland for the Avoidance of Double Taxation with Respect to Taxes on Income and Capital, dated 23 April 1997
- The Protocol of Amendment also dated 23 April 1997
- The Additional Protocol dated 23 November 2000
- The Protocol of Amendment dated 7 August 2008 (this protocol did not enter into force)
According to the Argentine Government, with respect to benefits arising from Maritime and Aerial Transport, the agreement between the two countries to prevent Double Taxation will continue to be suspended. Multinationals with operations in Argentina and Switzerland should take a note of this announcement.
Your Taxand contacts for further queries are:
Mat?as Olivero Vila
T. +54 11 5288 2308
T. +54 11 4021-2950
Daniela C. Rey