The Swiss government on February 8 announced the conclusion of negotiations with Maltese authorities towards the revision of a convention for the avoidance of double taxation and fiscal evasion to include provisions for the exchange of tax information, with both parties' initialling the text.
The amendment will revise the agreement, dating back to December 2008, to include provisions for the exchange of tax information, in accordance with the Organisation for Economic and Cooperation Development's standard.
Since the Swiss government's decision on March 13, 2009, it has concluded negotiations with over 30 states to provide access to information upon request in cases where there is evidence of the perpetration of fiscal crime.
In the process, the Swiss government was provided the opportunity to negotiate various benefits for the economy, such as reductions in withholding tax on dividends, interest and royalty payments, or the introduction of an arbitration clause.
The content of the agreement is confidential in the first instance, to be made public after a consultation with the cantons and business associations concerned.
The agreement will then be signed and subsequently presented before the country's legislative assembly so that it can then be ratified.
The amendment will revise the agreement, dating back to December 2008, to include provisions for the exchange of tax information, in accordance with the Organisation for Economic and Cooperation Development's standard.
Since the Swiss government's decision on March 13, 2009, it has concluded negotiations with over 30 states to provide access to information upon request in cases where there is evidence of the perpetration of fiscal crime.
In the process, the Swiss government was provided the opportunity to negotiate various benefits for the economy, such as reductions in withholding tax on dividends, interest and royalty payments, or the introduction of an arbitration clause.
The content of the agreement is confidential in the first instance, to be made public after a consultation with the cantons and business associations concerned.
The agreement will then be signed and subsequently presented before the country's legislative assembly so that it can then be ratified.
