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Tax treaty approved by Congress
The new treaty with Switzerland to avoid double tax ("DTT") has been approved by the Congress. Taxand Argentina highlights the impacts the agreement will have.
The DTT intends to avoid double taxation with respect to taxes on income and on capital, and also foresees a mechanism to exchange information which is relevant for tax purposes.
Once the DTT is in force, its provisions shall have an affectt on:
- Taxes withheld at source, on income derived on or after the first day of January of the calendar year in which the DTT enters into force
- Regarding other taxes on income or capital, for taxes chargeable for any fiscal year beginning on or after the first day of January in the calendar year next following the year in which the DTT enters into force
- In respect of the exchange of information which is relevant for tax purposes, for information that relates to fiscal years or business years beginning on or after the first day of January of the calendar year next following the entry into force of the DTT.
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