SWITZERLAND and Spain recently signed a protocol amending the existing
bilateral double taxation agreement (DTA) in place between the two
countries.
According to the Swiss federal administration, the revision
will contribute to the further positive development of bilateral economic
relations. The revised DTA also contains provisions on the exchange of
information in line with internationally applicable standards.
As
per the amended provisions, no withholding tax will in future be levied on
dividend payments from significant holdings of at least 10% (up to now 25%) in
the capital of the company making the payment, as well as on dividend payments
to pension funds.
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