Switzerland announces entry into force of tax treaties with Iceland and Cyprus and protocols with Estonia and Uzbekistan; signing of TIEA with Brazil

 

The Swiss government on November 24 announced that double tax agreements signed by Switzerland and Cyprus, Iceland, Estonia, and Uzbekistan have entered into force. The goverment also announced that Switzerland signed a tax information exchange agreement (TIEA) with Brazil providing for exchange of information on request.

The four tax agreements will become applicable from January 1, 2016.

The tax treaty with Cyprus, signed on July 25, 2014, came into force on October 15, 2015; the tax treaty with Iceland, signed July 10, 2014, came into force November 6, 2015; the protocol with Estonia, signed August 25, 2014, came into force October 16, 2015; and the protocol with Uzbekistan, signed July 1, 2014, came into force on October 14, 2015, the government said.

The TIEA agreement with Brazil would cause Switzerland to be removed from Brazil’s blacklist of countries without adequate exchange of tax-related information, the government said. The TIEA has not yet been approved by Parliament and is subject to an optional referendum. ,

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