Switzerland and Latvia today signed a protocol to their 2002 double taxation agreement, Switzerland’s Federal Council has announced.
The agreement provides for exchange of information upon request, reduces taxes on qualified participations, and adds a new arbitration clause, the Swiss government said.
The Switzerland-Latvia tax treaty protocol also adopts a principal purpose test to prevent tax treaty abuse that conforms with the final agreements under the OECD/G20 base erosion and profit shifting project.
The agreement has not yet been approved by the two countries’ parliaments, and is thus not in force.
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