Switzerland and Ireland have concluded negotiations on revising the existing double taxation agreement (DTA) in place between the two States. Along with other issues, the revised agreement will incorporate provisions to provide for the exchange of tax information in line with the Organisation for Economic and Cooperation Development's (OECD's) internationally-accepted standard.

According to an official statement, initially the content of the revised agreement with Ireland will be confidential. The Swiss authorities intend to consult with cantons and business associations affected by the new agreement for consultation before presenting the revised agreement to its parliament for approval.

Since the Swiss authority's decision to adopt the OECD standard on administrative assistance in tax matters, it has concluded negotiations with over two dozen states for agreements that include tax information sharing provisions. In the process, the government said, Switzerland has also been able to negotiate various benefits for the economy, such as reductions in withholding tax on dividends, interest and royalty payments, as well as the introduction of an arbitration clause. This policy will be pursued and further negotiations are already envisaged with important countries, the government said.

More details are available at: http://www.admin.ch/aktuell/00089/index.html?lang=en&msg-id=34380