Switzerland has signed a new double taxation agreement with Argentina for the avoidance of double taxation regarding taxes on income and on capital.
The new DTA will replace the 1997agreement and is in compliance with the current international exchange of information standard.
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The new agreement will strengthen economic ties between Switzerland and Argentina in addition to avoiding the double taxation of dividends, interest payments, and royalties.
The amended agreement that has been approved by the Swiss cantons and business associations will now require approval from parliament in both the states before coming into effect.
Meanwhile, the exchange of notes of 1950 regarding the taxation of shipping and air transport companies will continue to apply.
Till date, Switzerland has signed 43 double taxation agreements in line with the current international exchange of information standard, of which 36 are in effect.
Additionally, Switzerland has also recently signed tax information exchange agreements (TIEAs) with Greenland and Andorra.
