by swisscham in Bilateral Relations
The ratification procedures for the new double taxation agreements (DTAs) with Australia, Hungary and China have been concluded. The new DTAs with Australia and Hungary entered into force on 14 October 2014 and 9 November 2014 respectively while the agreement with China will enter into force on 15 November 2014. The new DTAs contain administrative assistance provisions in accordance with the internationally applicable standard. They also promote the development of bilateral economic relations. The three new DTAs replace the currently applicable agreements between Switzerland and Australia, Hungary and China. The provisions of these agreements will be applicable from 1 January 2015. Parliament approved the three agreements on 20 June 2014. No referendum was called. To date, Switzerland has signed 49 DTAs and 7 tax information exchange agreements (TIEAs) that are in line with the international exchange of information standard, and of these, 41 DTAs and 3 TIEAs are in force.